China's economy grew 5% last year, matching the government's target, but in a lopsided fashion, with many people complaining of worsening living standards as Beijing struggles to transfer its industrial and export gains to consumers.

China’s economy expanded 5% in 2024, meeting the official target of “around 5%” growth after stimulus measures introduced late last year appear to be working.

Sales of consumer goods grew a moderate 3.5 percent, while hospitality sectors continued to outperform discretionary segments such as apparel, gold and jewelry.

Analysts say they see signs of malaise in China’s domestic economy, but those problems were offset mainly by robust exports and a $1 trillion trade surplus.

China recorded one of its slowest rates of economic growth in decades last year, data showed Friday, as leaders nervously eye a potential trade standoff with the US President-elect Donald Trump. Beijing has in recent months announced its most aggressive support measures in years in a bid to reignite an economy that has suffered on multiple fronts,