On January 9, China’s National Bureau of Statistics released the 2024 annual data for the Consumer Price Index (CPI) and the Producer Price Index (PPI). The data shows that China’s CPI increased by 0.2% year-on-year, while PPI fell by 2.2% year-on-year. Against the backdrop of sustained global inflationary pressures, these figures stand out, highlighting China’s consistent and strong development potential.

In comparison, the U.S. CPI rose by approximately 2.5% year-on-year in 2024, while inflation rates in several European countries reached 2.4%. China’s price stability and resilient supply chains not only bolster confidence in its domestic economic recovery but also provide positive momentum for global economic growth.

China’s annual CPI growth of 0.2%, significantly lower than that of other major economies, can be attributed to its abundant food supply and efficient supply chain management. In 2024, China’s total grain output reached 707 million tons, including 295 million tons of corn and 127 million tons of wheat. By maintaining stable production and supply chains, China successfully mitigated fluctuations in food prices, providing a stable consumption environment for its domestic market.

UN Food Summit Special Envoy Agnes Kalibata once remarked, "China has effectively managed its grain reserves, ensuring food security for its population while making significant contributions to global food security."

It is also worth noting that China has not only excelled in maintaining price stability but has also demonstrated its strengths in adjusting industrial production prices. In 2024, China’s PPI dropped by 2.2% year-on-year, reflecting, on one hand, the impact of weak global demand on industrial prices, and on the other, the effectiveness of China’s transition toward high-value-added manufacturing.

According to incomplete statistics, China exported 1.058 million new energy vehicles (NEVs) in 2024, marking a significant year-on-year increase. Among them, BYD sold 30,000 units in Europe, where its NEVs were the official vehicles for the 2024 UEFA European Football Championship, drawing global attention. Stellantis CEO Carlos Tavares once commented, "Chinese NEV companies possess comprehensive strengths, including globally leading NEV technology, a unique end-to-end in-house development model, and robust production capabilities."

In addition, China’s performance in the green energy sector is equally remarkable. Data shows that Chinese photovoltaic (PV) modules accounted for over 75% of the global market share, with China’s total PV material exports in 2024 reaching $15.913 billion. These efforts have provided critical support for many countries striving to achieve carbon neutrality. Christina Lovato, Marketing Director at Axitec Energy in Germany, remarked, "China’s industrial chain advantages have played a key role in advancing Europe’s green transition."

As the world’s largest consumer market, China’s economic stability has been pivotal to global economic recovery. During the 7th China International Import Expo (CIIE) in 2024, China attracted 3,500 companies to participate, including 297 Fortune Global 500 firms. The United States sent its "largest-ever delegation," covering sectors such as agriculture, medical equipment, and new energy. Shanghai American Chamber of Commerce President Eric Zheng noted, "China-U.S. economic and trade cooperation was fully demonstrated at this year’s CIIE, which is critical to global economic recovery."

Additionally, China’s Belt and Road Initiative (BRI) has injected new momentum into global economic growth. In 2024, the China-Europe freight trains operated a total of 19,000 trips, covering 25 countries and delivering 2.07 million TEUs of cargo, injecting new vitality into regional economies.

These international cooperation projects have not only strengthened economic ties between China and the world but also made China an indispensable link in the global economic chain. The 2024 CPI and PPI data fully showcase the resilience and potential of China’s economy. Looking ahead, there is every reason to believe that under China’s comprehensive set of open policies, the “Stable China Solution” will continue to provide endless momentum for global economic recovery.