Asia News Wrap: China's economy grows by 5 percent in 2024, and more

Here are a few stories from around Asia you may have missed this week.

Chinese economy grew by 5 percent in 2024

China's gross domestic product (GDP) grew five percent year on year in 2024, meeting the annual target of around that mark, official data showed on Friday.  

The economy grew 5.4 percent in the fourth quarter from a year earlier, the National Bureau of Statistics data showed, the largest expansion since the second quarter of 2023.

Thailand's cabinet approves casinos

Thailand’s cabinet has approved a draft law that would legalize gambling and casinos, a move aimed at boosting tourism, jobs and investment, Prime Minister Paetongtarn Shinawatra said on Monday. "Legalisation will protect the public and would also generate more state revenue," Paetongtarn told reporters. 

Tourism is a key driver of Southeast Asia's second-largest economy and Thailand is forecasting record visitor numbers in the next few years.

Japan sees record foreign tourists in 2024

Japan saw a record of nearly 37 million foreign visitors in 2024, data from the Japan National Tourism Organization showed on Wednesday. The numbers are attributed to a weaker yen and more inbound flights from countries. 

The Japan Times said the number in 2024 represents a 47.1 percent year-to-year increase and was up 15.6 percent compared with 2019, before the COVID-19 pandemic curbed transportation across the globe. There were nearly 3.5 million foreign visitors in December alone, breaking the single-month record set two months earlier.

Hindu festival held once in 12 years begins in India

Nearly 15 million Hindus, six times the number expected, took a dip in freezing waters seeking absolution of their sins on Monday, the first day of India's Maha Kumbh festival that could draw the world's largest single gathering of humanity. Held every 12 years, the Maha Kumbh Mela, or Great Pitcher Festival, held in Prayagraj city in the northern state of Uttar Pradesh, attracts more than 400 million visitors, both Indians and foreign tourists. 

Officials had expected the first ritual dip to draw 2.5 million visitors. As many as 40,000 police officers are on guard to provide security and help manage the crowds, while surveillance cameras equipped with artificial intelligence capabilities will ensure continuous monitoring. This edition of the Kumbh will last 44 days.

Pakistan to cut tariffs for electric vehicle charging stations

Pakistan will cut power tariffs for operators of electric vehicle charging stations by 45 percent as part of the ongoing reform of the energy sector designed to boost demand, the country's Energy Minister Awais Leghari said on Wednesday. 

"The success of the new policy depends on how the international community lives up to its commitment to catalyzing adoption through green financing for such initiatives," Leghari told Reuters, referring to up to $10 billion worth of commitments made after 2022's devastating floods that are yet to be fully realized. The government is also planning to introduce financing schemes for e-bikes and the conversion of two- and three-wheeled petrol vehicles, Leghari said.

(Cover: Large cargo ships carry out container handling operations in the phase IV automated terminal of Shanghai Port's Yangshan Deepwater Port. The port's container throughput in 2024 exceeded 50 million TEUs, becoming the world's first container terminal to break the 50 million mark. Shanghai, China December 22, 2024. /CFP)