China's GDP projected to increase 5.3% in 2024

China's economic growth is projected to reach 5.3 percent in 2024, Xinhua Finance reported on Tuesday citing a report by Chinese Academy of Sciences.

The report made projections on China's economic growth, investment, consumption, import and export, domestic prices, and international bulk commodity prices, as well as grain output in 2024.

China's overall economy is expected to witness stable operation in 2024 and progress is projected to be made during its steady development.

The country's economic development trend is also projected to start low at the beginning and climb higher later on, according to China Economic Forecast and Outlook for 2024.