The Chinese economy shrank by a seasonally adjusted 2.6% on quarter in the three months to June 2022, compared with market estimates of 1.5% drop and after an upwardly revised 1.4% growth in the previous quarter. This was the first quarterly contraction since the first quarter of 2020, when an outbreak of COVID-19 in Wuhan, first detected in late 2019, turned into a full blown epidemic. Full or partial lockdowns were imposed in major Chinese cities from March through May of 2022, including the financial and commerce hub of Shanghai. China's statistics agency highlighted that the downward pressure on the economy has increased significantly from the June quarter onwards, with severe impacts from unforeseen factors. “The foundation of sustained economic recovery is not stable,” it said, amid rising inflation risks globally, tightening monetary policies in major economies, and the impact of domestic virus outbreaks. source: National Bureau of Statistics of China

GDP Growth Rate in China averaged 1.60 percent from 2010 until 2022, reaching an all time high of 11.60 percent in the second quarter of 2020 and a record low of -10.50 percent in the first quarter of 2020. This page provides - China GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. China GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.

GDP Growth Rate in China is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China GDP Growth Rate is projected to trend around 1.10 percent in 2023 and 1.30 percent in 2024, according to our econometric models.

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China GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-04-18 02:00 AM Q1 1.3% 1.5% 0.6% 0.7%
2022-07-15 02:00 AM Q2 -2.6% 1.4% -1.5% -2.1%
2022-10-18 02:00 AM Q3 -2.6%


Related Last Previous Unit Reference
GDP Growth Rate -2.60 1.40 percent Jun 2022
GDP Annual Growth Rate 0.40 4.80 percent Jun 2022
Gross National Product 1133518.00 1009151.00 CNY HML Dec 2021
Gross Fixed Capital Formation 478901.20 435682.60 CNY HML Dec 2021
Full Year GDP Growth 8.10 2.20 percent Dec 2021
GDP from Manufacturing 193885.00 93551.50 CNY HML Jun 2022
GDP from Construction 35575.00 13029.00 CNY HML Jun 2022
GDP from Agriculture 29137.00 10953.80 CNY HML Jun 2022
GDP Constant Prices 525197.30 256322.10 CNY HML Jun 2022
GDP from Transport 22543.00 10430.30 CNY HML Jun 2022
GDP from Services 304868.00 153037.40 CNY HML Jun 2022
Economic Activity Index 50.80 51.70 points Oct 2021
GDP from Mining 23696.00 22592.00 CNY HML Dec 2019

China GDP Growth Rate
In China, the growth rate in GDP measures the change in the seasonally adjusted value of the goods and services produced by the Chinese economy during the quarter. As China’s traditional growth engines of manufacturing and construction are slowing down, services have emerged as the new driver. In the last few quarters strength in services and consumption helped to offset weaker manufacturing and exports. .
Actual Previous Highest Lowest Dates Unit Frequency
-2.60 1.40 11.60 -10.50 2010 - 2022 percent Quarterly
SA

News Stream
China Economy Shrinks 2.6% QoQ in Q2
The Chinese economy shrank by a seasonally adjusted 2.6% on quarter in the three months to June 2022, compared with market estimates of 1.5% drop and after an upwardly revised 1.4% growth in the previous quarter. This was the first quarterly contraction since the first quarter of 2020, when an outbreak of COVID-19 in Wuhan, first detected in late 2019, turned into a full blown epidemic. Full or partial lockdowns were imposed in major Chinese cities from March through May of 2022, including the financial and commerce hub of Shanghai. China's statistics agency highlighted that the downward pressure on the economy has increased significantly from the June quarter onwards, with severe impacts from unforeseen factors. “The foundation of sustained economic recovery is not stable,” it said, amid rising inflation risks globally, tightening monetary policies in major economies, and the impact of domestic virus outbreaks.
2022-07-15
China Economy Expands 1.3% QoQ in Q1
The Chinese economy grew by a seasonally adjusted 1.3 percent on quarter in the three months to March 2022, surpassing market estimates of 0.6 percent and following a marginally revised 1.5 percent advance in the previous quarter. China's statistics agency said in an online statement that the economy continued its recovery despite multiple headwinds at home and abroad, adding that overall activities were within a reasonable range. So far this year, Beijing has launched more fiscal stimulus, including stepping up local bond issuance to fund infrastructure projects while slashing taxes for businesses. Meantime, the PBoC last week said it would cut bank's reserve requirement ratio for the first time this year, releasing about CNY 530 billion in long-term liquidity to spur the economy.
2022-04-18
China Quarterly GDP Growth Strongest in a Year
The Chinese economy grew by a seasonally adjusted 1.6 percent on quarter in the three months to December 2021, surpassing market estimates of 1.1 percent and following an upwardly revised 0.7 percent advance in the previous quarter. This was the fastest quarterly growth since the fourth quarter of 2020, supported by a rebound in activity ahead of the Beijing Winter Games as well as the Lunar New Year and despite strict COVID-19 curbs in some regions, power shortage, and uncertainty from the property sector.
2022-01-17