China revised upwards on Thursday the size of its economy by 2.7%, but said the change would have little impact on growth this year, as policymakers pledged more stimulus to spur expansion in 2025.

China revised upwards its 2023 gross domestic product (GDP) by 2.7 percent to 129.4 trillion yuan (US$17.73 trillion), a top statistics official said on Thursday, while the World Bank raised its forecast for China's economic growth in 2024 and 2025.

China has revised its 2023 GDP up by 2.7% to 129.4 trillion yuan. Policy support aims to meet a growth target of 5%, but U.S. tariff concerns persist. The economic census highlights shifts in the job market,

China said on Friday its 2023 gross domestic product was revised upward due in part to changes in housing sector calculation methods, which would also affect the size of the economy in 2024 but have little impact on the growth rate.