China's economy grows by 5% in 2024, employment and prices stable

China's gross domestic product grew 5 percent year on year in 2024, ranking among the world's fastest growing major economies and continuing to contribute about 30 percent to global economic growth, according to a government work report submitted to the national legislature for deliberation on Wednesday.

According to the report, China's economy maintained overall stable operation in 2024, and the major goals and tasks for its economic and social development were accomplished.

Last year, the country's employment and prices remained stable overall, with 12.56 million new urban jobs created, the surveyed urban unemployment rate averaging 5.1 percent and the consumer price index rising 0.2 percent.

The report said China had made solid progress in ensuring people's well-being, with per capita disposable income rising by 5.1 percent last year.