China notified the International Monetary Fund on Thursday that its economy grew by 5% in 2024, IMF Chief Economist Pierre-Olivier Gourinchas told reporters, calling the development a "positive surprise" compared to the IMF's forecast of 4.

Sales of consumer goods grew a moderate 3.5 percent, while hospitality sectors continued to outperform discretionary segments such as apparel, gold and jewelry.

Exports have surged as companies and consumers rush to beat potential US tariff hikes. However, some economists say China's economy is growing at a slower pace than official estimates show. View on eu