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.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
China GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-10-24 01:45 AM Q3 3.9% 0.4% 3.4% 3.3%
2023-01-17 02:00 AM Q4 2.9% 3.9% 1.8% 1.5%
2023-04-18 02:00 AM Q1 2.9% 3.2%


Related Last Previous Unit Reference
GDP Growth Rate 0.00 3.90 percent Dec 2022
GDP Annual Growth Rate 2.90 3.90 percent Dec 2022
Gross National Product 1133239.80 1009151.00 CNY HML Dec 2021
Gross Fixed Capital Formation 478901.20 435682.60 CNY HML Dec 2021
Full Year GDP Growth 3.00 8.10 percent Dec 2022
GDP from Transport 49674.00 35700.50 CNY HML Dec 2022
GDP from Services 638698.00 465300.40 CNY HML Dec 2022
GDP from Manufacturing 401644.00 293474.60 CNY HML Dec 2022
GDP from Construction 83383.00 58024.70 CNY HML Dec 2022
GDP from Agriculture 88345.00 54779.10 CNY HML Dec 2022
GDP Constant Prices 813829.50 525197.30 CNY HML Sep 2022
Economic Activity Index 50.80 51.70 points Oct 2021
GDP from Mining 23696.00 22592.00 CNY HML Dec 2019

China GDP Annual Growth Rate
In China, Gross Domestic Product is divided by three sectors: Primary, Secondary and Tertiary. The Primary Industry includes Farming, Forestry, Animal Husbandry, and Fishery and accounts for around 9 percent of GDP. The Secondary sector, which includes Industry (40 percent of GDP) and Construction (9 percent of GDP) is the most important. The Tertiary sector accounts for the remaining 44 percent of total output and consist of Wholesale and Retail Trades; Transport, Storage, and Post; Financial Intermediation; Real Estate; Hotel and Catering Services and Others.
Actual Previous Highest Lowest Dates Unit Frequency
2.90 3.90 18.30 -6.80 1989 - 2022 percent Quarterly

News Stream
China 2022 GDP Growth Below Government's Target
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.
2023-01-17
China Revises 2021 GDP Growth Up to 8.4%
China has revised higher its GDP growth rate of 2021 to 8.4 percent from 8.1 percent previously, the National Bureau of Statistics said on Tuesday. Final data from the bureau showed the services sector, accounting for 53 percent of China's GDP, was revised up to 8.5 percent from 8.2 percent. Meanwhile, the secondary sector, which accounted for 39 percent of GDP, grew 8.7 percent in 2021. That compared with the bureau's initial estimate of an 8.2 percent expansion. For the first nine months of 2022, China's GDP grew by 3 percent. The World Bank has cut its forecast for China's 2022 economic growth to 2.7 percent, well below the official target of around 5.5 percent.
2022-12-27
China Q3 GDP Growth Beats Estimates
The Chinese economy advanced 3.9% yoy in Q3 of 2022, exceeding market consensus of 3.4% and picking up from a 0.4% growth in Q2, boosted by various measures from Beijing to revive activity. The latest figure was released just a day after President Xi Jinping secured a historic third term, and as the statistics agency warned that the recovery was still not solid due to domestic and global headwinds. September data showed a mixed recovery in China, with retail sales rising the least in 4 months, export growth at a 5-month low, and the jobless rate hitting its highest since June. Meantime, industrial output rose the most in 7 months, due to faster rises in output of both manufacturing and mining. For the first nine months of the year, China's GDP grew by 3%, with Beijing no longer mentioning about the target of 5.5% for 2022 but pledged easier lending and other measures to boost growth. The GDP data was originally scheduled for October,18th but was delayed until the Party Congress ended.
2022-10-24