BEIJING, Jan. 17 (Xinhua) -- China's economy reached its 2024 growth target despite a complex domestic and global landscape, providing much-needed certainty and confidence to the global economy.

The world's second-largest economy expanded 5 percent year on year in 2024, with its gross domestic product (GDP) reaching 134.9084 trillion yuan (about 18.77 trillion U.S. dollars), the National Bureau of Statistics (NBS) said Friday.

Kang Yi, head of the NBS, described the economic achievements as "hard-won," and said they would provide a solid foundation for achieving goals outlined in the country's 14th Five-Year Plan (2021-2025).

China's growth rate is among the highest of the world's major economies, reinforcing its continued role as a key driver of global economic growth, Kang told a press conference.