China’s gross domestic product is projected to grow around 5% in 2024, President Xi Jinping said, signaling the economy is on track to meet its target. Xi described the economy as stable with risks addressed and employment and prices steady, according to a speech published by Xinhua News Agency. Xi called for more proactive macroeconomic policies to sustain recovery, echoing recent stimulus measures rolled out since September. Economists surveyed by Bloomberg expect 4.8% growth for the year, aligning with Xi’s forecast. China is likely to set a similar growth target for 2025, as top leaders have indicated a readiness to deploy stronger stimulus to counter external challenges, including potential increases in U.S. tariffs.