China's GDP expands 5% in H1

China's gross domestic product (GDP) grew 5 percent year on year in the first half of 2024, data from the National Bureau of Statistics (NBS) showed Monday.

China's GDP reached around 61.68 trillion yuan (about 8.65 trillion U.S. dollars) in the first half, NBS data showed.

In the second quarter, the country's GDP expanded 4.7 percent year on year, according to the NBS.

"Overall, the national economy has continued to improve in the first half in a stable manner," said an NBS spokesperson commenting on the economic performance, citing support from policy incentives, rebound in external demand and development of new quality productive forces.