The Chinese economy advanced 6.5 percent year-on-year in the December quarter, after a 4.9 percent growth in the third quarter and above market consensus of 6.1 percent. The latest reading pointed to pre-pandemic growth rates, with industrial output rising the most in 3-1/2 years in December. For full 2020, the country's GDP expanded 2.3 percent, the slowest pace in more than four decades. Still, China is likely to be the only major economy to avoid contraction due to the COVID-19 shocks. In 2020, the primary sector went up 3 percent, with live pig inventory surging 31 percent. Industry advanced 2.6 percent, with manufacturing rising 3.4 percent, utilities 2 percent and mining 0.5 percent. The tertiary sector expanded 2.1 percent. Also, real estate investment grew 7 percent, with residential rising 7.6 percent and office building 5.4 percent. source: National Bureau of Statistics of China
GDP Annual Growth Rate in China averaged 9.21 percent from 1989 until 2020, reaching an all time high of 15.30 percent in the first quarter of 1993 and a record low of -6.80 percent in the first quarter of 2020. This page provides - China GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. China GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
GDP Annual Growth Rate in China is expected to be 6.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in China to stand at 5.60 in 12 months time. In the long-term, the China GDP Annual Growth Rate is projected to trend around 5.90 percent in 2022 and 5.40 percent in 2023, according to our econometric models.