The Chinese economy expanded 2.9% YoY in Q4 of 2022, easing from a 3.9% growth in Q3 but above market estimates of a 1.8% rise. Industrial output increased the least in seven months in December, retail sales remained weak, while the surveyed jobless rate dropped from November's 6-month high. For the full year of 2022, the economy grew by 3.0%, missing the official target of around 5.5% and marking the second slowest pace since 1976 amid the impact of Beijing's zero-COVID policy. "In 2022, the foundation of economic recovery is not solid as the global situation is still complicated and severe while the domestic triple pressure of demand contraction, supply shock, and weakening expectations is still looming," the statistics bureau said. China's leaders are set to announce the 2023 GDP growth target in March at an annual parliamentary meeting. It will be the first such gathering since President Xi Jinping consolidated his power in October 2022. source: National Bureau of Statistics of China
GDP Annual Growth Rate in China averaged 9.00 percent from 1989 until 2022, reaching an all time high of 18.30 percent in the first quarter of 2021 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 2023.
GDP Annual Growth Rate in China is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China GDP Annual Growth Rate is projected to trend around 4.00 percent in 2024 and 4.10 percent in 2025, according to our econometric models.