The Chinese economy advanced 6.0 percent year-on-year in the December quarter of 2019, the same as in the previous quarter and matching market expectations. This remained the weakest growth rate since the first quarter of 1992, amid trade pressure from the US and sluggish demand from home and abroad. Considering full 2019, the economy grew by 6.1 percent, the slowest pace in 29 years but still within the government's target of 6 to 6.5 percent. In 2020, the economy is expected to remain under pressure. Although the Phase One trade deal with the US eased trade tensions and increased business optimism, existing tariffs will remain in place and further monetary easing will be needed to boost domestic demand. GDP Annual Growth Rate in China averaged 9.36 percent from 1989 until 2019, reaching an all time high of 15.40 percent in the first quarter of 1993 and a record low of 3.80 percent in the fourth quarter of 1990. source: National Bureau of Statistics of China

GDP Annual Growth Rate in China is expected to be 5.70 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 5.80 in 12 months time. In the long-term, the China GDP Annual Growth Rate is projected to trend around 5.60 percent in 2020, according to our econometric models.

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China GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
6.00 6.00 15.40 3.80 1989 - 2019 percent Quarterly



Calendar GMT Actual Previous Consensus TEForecast
2019-04-17 02:00 AM Q1 6.4% 6.4% 6.3% 6.4%
2019-07-15 02:00 AM Q2 6.2% 6.4% 6.2% 6.3%
2019-10-18 02:00 AM Q3 6% 6.2% 6.1% 5.9%
2020-01-17 02:00 AM Q4 6% 6% 6% 5.9%
2020-04-17 02:00 AM Q1 6% 5.7%


News Stream
2019-10-18
China Q3 GDP Growth Weakest in 27-1/2 Years
The Chinese economy advanced 6.0 percent year-on-year in the September quarter of 2019, slowing from a 6.2 percent expansion in the previous quarter and compared with market expectations of 6.1 percent. It was the weakest growth rate since the first quarter of 1992, amid persistent trade tensions with the US, weakening global demand and alarming off-balance-sheet borrowings by local governments.

2019-07-15
China Q2 GDP Growth Weakest in 27 Years
The Chinese economy advanced 6.2 percent year-on-year in the second quarter of 2019, slowing from a 6.4 percent expansion in the previous three-month period and matching market expectations. It was the lowest growth rate since the first quarter of 1992, amid ongoing trade tensions with the US, weakening global demand and alarming off-balance-sheet borrowings by local governments.

2019-04-17
China Q1 GDP Growth Beats Estimates
The Chinese economy advanced 6.4 percent year-on-year in the March quarter of 2019, the same pace as in the previous quarter but slightly above market expectations of a 6.3 percent expansion. Industrial output growth accelerated markedly and consumer demand strengthened amid government's pro-growth policies, which helped stabilize sentiments rattled by trade dispute with the US. On a quarter-on-quarter basis, the economy grew 1.4 percent in the first quarter, compared to a 1.5 percent expansion in the previous period and matching market estimates. It was the weakest quarterly growth rate since the first quarter of 2016.

2019-03-05
China Lowers 2019 GDP Growth Target to 6-6.5%
China targets economic growth of between 6.0 to 6.5 percent for this year, lower than last year's 6.6 percent rate of expansion, which was already the country's weakest annual growth in three decades, Premier Li Keqiang said in a speech at the annual meeting of Chinese parliament. "There has been a more complex and severe environment facing our country's development this year," the Premier added. "There are greater expected and unexpected risks and challenges, and we have to make full preparations for a hard struggle." Regarding fiscal and monetary policies ahead, the Premier said they would be "neither too tight nor too loose". Also, the government would not resort to a flood of liquidity. Growth targets for M2 money supply, which includes cash in circulation and deposits, and total social financing this year would be in line with nominal GDP growth.

2019-01-21
China 2018 GDP Growth Weakest in 28 Years
The Chinese economy advanced 6.4 percent year-on-year in the December quarter of 2018, after a 6.5 percent growth in the previous quarter and matching market expectations. It was the lowest growth rate since the global financial crisis, amid intense trade dispute with the US, weakening domestic demand and alarming off-balance-sheet borrowings by local governments. Considering full 2018, the economy expanded 6.6 percent, the weakest pace since 1990. Previously, China's statistic bureau revised down the country's GDP growth for 2017 to 6.8 percent from 6.9 percent.


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.

China GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.50 1.40 2.40 1.40 percent [+]
GDP Annual Growth Rate 6.00 6.00 15.40 3.80 percent [+]
GDP 13608.15 12143.49 13608.15 47.21 USD Billion [+]
Gross National Product 896915.60 820099.50 896915.60 679.10 CNY HML [+]
Gross Fixed Capital Formation 380771.80 349368.80 380771.80 80.70 CNY HML [+]
GDP per capita 7755.00 7308.10 7755.00 132.30 USD [+]
GDP per capita PPP 16186.80 15254.00 16186.80 1522.00 USD [+]
GDP From Agriculture 70467.00 43005.00 70467.00 649.30 CNY HML [+]
GDP From Construction 70904.00 45134.00 70904.00 181.90 CNY HML [+]
GDP From Manufacturing 317109.00 233457.00 317109.00 2207.80 CNY HML [+]
GDP From Services 534233.00 376925.00 534233.00 2212.70 CNY HML [+]
GDP From Transport 42802.00 31894.00 42802.00 393.20 CNY HML [+]
GDP Constant Prices 990865.00 697798.00 990865.00 5262.80 CNY HML [+]