
Rachel Farmer
Manager, Business Advisory Services
Washington, DC
Manager, Business Advisory Services
Washington, DC
Rachel is a manager of business advisory services at USCBC in Washington, DC. Prior to joining the Council, she worked as a project consultant at APCO Worldwide in Beijing. She holds a master’s degree in Chinese politics and foreign policy from Tsinghua University and a bachelor’s degree in global studies and Asian studies from the University of North Carolina at Chapel Hill. She is proficient in Mandarin and lived in China for many years.
China’s economy experienced a moderate rebound in the final quarter of 2024, providing the needed push for the country to meet its annual growth target of around 5 percent. According to data released by the National Bureau of Statistics, China’s real GDP in 2024 reached RMB 134.9 trillion ($18.42 trillion), marking 5 percent year-on-year growth.
Senior Chinese policymakers on Thursday concluded the annual Central Economic Work Conference, where leaders met over two days to set the economic agenda for the coming year. The conference took place as China continues to grapple with a severe property market crisis, mounting local government debt, and weak domestic demand.
China’s top legislative body recently announced a debt swap plan that will relieve local governments from paying a total of RMB 12 trillion (USD 1.66 trillion) of off-balance sheet debt.
The Department of the Treasury on Monday released a final rule implementing President Joe Biden’s August 2023 executive order on “Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern.”
Data released by the National Bureau of Statistics on October 18 reveals that China’s GDP grew by 4.6 percent in the third quarter of the year, the slowest pace since early 2023.