China's economy matched the government's ambitions for 5% growth last year, but in a lopsided fashion, with many people complaining of worsening living standards as Beijing struggles to transfer its industrial and export gains to consumers.

China’s economy grew more than expected in the last three months of 2024, official data showed on Friday, as it awaits the likely imposition of fresh tariffs by US President-elect Donald Trump, who takes office next week.

China’s economy hit the government’s growth goal last year after an 11th hour stimulus blitz and export boom turbocharged activity, although looming US tariffs threaten to take away a key driver of expansion.

Donald Trump said he held a “very good” phone call with China’s President Xi Jinping, as the US-President elect prepares to return to the White House next week.

U.S. President-elect Donald Trump and Chinese President Xi Jinping discussed issues including TikTok, trade and Taiwan in a phone call on Friday, just days before Trump takes office again promising tariffs that could ratchet up tensions between the world's two biggest economies.

The fall came despite a slight rise in births last year, the first increase since 2016. State efforts to cajole women to have children have met resistance.

The country’s population fell for a third straight year as deaths outpaced births.

China's population shrank further in 2024, even though births ticked upward for the first time in seven years.