emirates7 - China's economy is expected to grow by approximately 5 percent in 2024, contributing nearly 30 percent to global economic growth, according to Han Wenxiu, Executive Deputy Director of the Office of the Central Committee for Financial and Economic Affairs.

Han made these comments during an annual economic conference organized by the China Centre for International Economic Exchanges.

As reported by the *Global Times*, Han highlighted that China’s economy has made significant strides this year and is on course to achieve its primary economic and social development targets.

He emphasized the stability of employment, prices, and the international balance of payments, noting that the country’s foreign exchange reserves have remained above $3.2 trillion.

Looking ahead to 2025, Han stated that China will implement more proactive and effective macroeconomic policies, which will include a more active fiscal approach and a moderately accommodative monetary policy.

Han further noted that risks in critical sectors have been effectively managed. The real estate market has shown positive trends, with transaction volumes and prices improving since October. Additionally, risks related to local government debt and small to medium-sized financial institutions have been successfully mitigated, alleviated, and managed.