1. Uncertainty to Upturn.
- Author
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Xiaoyang, Li
- Subjects
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RETAIL industry , *ECONOMIC indicators , *ELECTRIC vehicles , *AUTOMATED guided vehicle systems , *INCOME tax - Abstract
China's GDP grew by 5 percent in the first half of 2024, reaching 61.68 trillion yuan ($8.5 trillion), thanks to government policies, rebounding demand, and evolving economic driving forces. Consumption played a major role in economic growth, with final consumption contributing to 60.5 percent of the growth. The tourism sector and domestic railway passenger trips also experienced significant growth. However, China faces challenges such as a slowdown in consumption growth and a decline in personal income tax revenue. To ensure job opportunities for new college graduates, China's economic growth for 2024 should be at least 5 percent. [Extracted from the article]
- Published
- 2024