Chine Croissance Du Pib

The Chinese GDP grew by a seasonally adjusted 1.6% in Q4 2024, accelerating from an upwardly revised 1.3% rise in Q3 and marking the strongest quarterly increase since Q1 2023. This also indicated the 10th consecutive quarter of advance, driven by a broad range of stimulus measures since September to revive stalled economic momentum and address persistent challenges, including rising deflation risks, persistently weak demand, the prolonged property sector downturn, and high local government debt levels. On the monetary front, the PBoC has maintained a supportive stance, reducing the RRR for commercial banks by 50bps each in September and February, and cutting several key interest rates to boost liquidity and spur activity. Despite these measures, the Chinese statistics agency highlighted ongoing risks from a challenging external environment and subdued domestic demand. It emphasized the need for more proactive and effective macroeconomic policies to sustain recovery.