Markets Actual Q2 Q3 Q4 Q1 2023
Currency 6.70 6.73 6.79 6.84 6.89 7
Stock Market (points) 3361.52 3254 3160 3069 2981 2813
Government Bond 10Y (%) 2.84 2.83 2.85 2.88 2.91 2.96

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 1.30 1.5 1.2 1.1 1.3 1.1
GDP Annual Growth Rate (%) 4.80 4 3.5 3.9 4.5 5.4
Unemployment Rate (%) 5.90 5.8 5.5 5.2 5.2 5.2
Inflation Rate (%) 2.10 2.5 3 2.8 2.5 2
Inflation Rate Mom (%) -0.20 0.3 0.2 0.2 0.4 0.2
Interest Rate (%) 3.70 3.7 3.45 3.45 3.45 3.75
Cash Reserve Ratio (%) 11.25 11.25 11 11 11 11
Balance of Trade (USD Billion) 78.76 66 65 100 90 95
Current Account (USD HML) 888.80 600 700 1000 500 400
Current Account to GDP (% of GDP) 1.80 1.2 1.2 1.2 1.2 0.9
Government Debt to GDP (% of GDP) 66.80 72 72 70 70 75
Government Budget (% of GDP) -3.70 -3 -3 -3 -3 -3.1
Business Confidence (points) 49.60 48.3 51.5 52 51.2 52
Services PMI (points) 41.40 46 52 51.5 51.8 50.5
Non Manufacturing PMI (%) 47.80 51.9 52 50.9 50.9 51.3
Manufacturing PMI (points) 48.10 50.5 51 51.3 50.3 51.3
Consumer Confidence (points) 86.70 100 117 120 122 120
Retail Sales MoM (%) 0.05 0.3 0.5 0.6 0.6 0.6
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 1.30 1.5 1.2 1.1 1.3 1.1
GDP Annual Growth Rate (%) 4.80 4 3.5 3.9 4.5 5.4
GDP (USD Billion) 14722.73 16700 16700 16700 16700 17400
Gross National Product (CNY HML) 1133518.00 1049517 1044471 1177725 1184526 1241322
Gross Fixed Capital Formation (CNY HML) 478901.20 453110 450931 497578 500452 524448
GDP per capita (USD) 10430.73 9020 9020 9020 9020 9090
GDP per capita PPP (USD) 16410.80 18210 18210 18210 18210 18350
GDP From Agriculture (CNY HML) 10953.80 29653 53420 86326 11447 90987
GDP From Construction (CNY HML) 13029.00 34407 56020 83264 13615 87760
GDP From Manufacturing (CNY HML) 93551.50 181404 276709 387106 97761 408009
GDP From Services (CNY HML) 153037.40 306038 463229 633457 159924 667664
GDP From Transport (CNY HML) 10430.30 23102 35901 48897 10900 51537
GDP Constant Prices (CNY HML) 256322.10 532875 817721 1138506 267857 1199986

Labour Actual Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 5.90 5.8 5.5 5.2 5.2 5.2
Employed Persons (Tens of Thousands ) 74652.00 74500 74500 74500 74100 74100
Unemployed Persons (Tens of Thousands ) 1102.00 1150 1100 1050 1000 980
Wages (CNY/Year) 106837.00 108100 108100 108100 108100 112400
Wages in Manufacturing (CNY/Year) 92459.00 97600 97600 97600 105600 105600
Minimum Wages (CNY/Month) 2590.00 2590 2590 2590 2650 2750
Population (Million) 1412.60 1414 1414 1414 1425 1425
Retirement Age Women 55.00 50 50 50 50 50
Retirement Age Men 60.00 60 60 60 60 60

Prices Actual Q2 Q3 Q4 Q1 2023
Inflation Rate (%) 2.10 2.5 3 2.8 2.5 2
Inflation Rate Mom (%) -0.20 0.3 0.2 0.2 0.4 0.2
Consumer Price Index CPI (points) 102.70 103 104 104 105 106
Core Consumer Prices (points) 100.90 102 102 102 102 103
Core Inflation Rate (%) 0.90 0.9 1 1.1 1 0.5
GDP Deflator (points) 696.46 714 717 716 714 730
Producer Prices (points) 114.30 116 118 119 119 122
Producer Prices Change (%) 6.40 8 6.9 6 5.2 3
Export Prices (points) 109.60 107 105 105 105 108
Import Prices (points) 112.70 115 114 112 112 102
Food Inflation (%) 2.30 3.5 4.3 3 3.5 3

Money Actual Q2 Q3 Q4 Q1 2023
Interest Rate (%) 3.70 3.7 3.45 3.45 3.45 3.75
Cash Reserve Ratio (%) 11.25 11.25 11 11 11 11
Interbank Rate (%) 2.62 2.62 2.37 2.37 2.37 2.42
Money Supply M0 (CNY Billion) 9550.00 9500 9700 9520 9320 8829
Money Supply M1 (CNY Billion) 64510.00 63300 62000 61800 60000 60841
Money Supply M2 (CNY Billion) 252700.00 255000 250000 245000 245000 225000
Foreign Exchange Reserves (USD Million) 3128000.00 3100000 3270000 3200000 3200000 3200000
Central Bank Balance Sheet (CNY HML) 385319.77 420000 440000 430000 430000 400000
Banks Balance Sheet (CNY Billion) 1890.00 2200 1900 1200 3000 1200
Loans to Private Sector (CNY HML) 27900.00 31000 32000 25000 25000 25000
Deposit Interest Rate (%) 0.35 0.35 0.35 0.35 0.35 0.35
Loan Growth (%) 11.00 11.2 11.8 12 12 12
Fixed Asset Investment (%) 6.20 7.2 8 4.9 3.9 3.9
Reverse Repo Rate (%) 2.10 2 2 1.9 1.9 1.9

Trade Actual Q2 Q3 Q4 Q1 2023
Balance of Trade (USD Billion) 78.76 66 65 100 90 95
Current Account (USD HML) 888.80 600 700 1000 500 400
Current Account to GDP (% of GDP) 1.80 1.2 1.2 1.2 1.2 0.9
Imports (USD Billion) 229.49 234 225 220 220 235
Exports (USD Billion) 308.25 300 290 320 310 330
External Debt (USD HML) 27465.60 29500 29500 29500 31500 31500
Terms of Trade (points) 97.25 92.72 92.11 95.09 93.75 106
Capital Flows (USD HML) -895.00 230 400 250 250 250
Foreign Direct Investment (USD HML) 877.70 1000 1400 1900 550 1500
Tourist Arrivals (Tens of Thousands ) 0.00 100 100 100 1200 1570
Crude Oil Production (BBL/D/1K) 4093.00 3960 3890 3810 3810 3810

Government Actual Q2 Q3 Q4 Q1 2023
Government Debt to GDP (% of GDP) 66.80 72 72 70 70 75
Government Budget (% of GDP) -3.70 -3 -3 -3 -3 -3.1
Government Spending (CNY HML) 245679.00 27100 27100 27100 29000 29000
Government Revenues (CNY HML) 12446.00 15000 17000 14000 18000 18000
Fiscal Expenditure (CNY HML) 18126.00 32000 26000 35000 28000 38000

Taxes Actual Q2 Q3 Q4 Q1 2023
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 45.00 45 45 45 45 45
Sales Tax Rate (%) 13.00 13 13 13 13 13
Social Security Rate (%) 39.02 39.02 39.02 39.02 39.02 39.02
Social Security Rate For Companies (%) 28.52 28.52 28.52 28.52 28.52 28.52
Social Security Rate For Employees (%) 10.50 10.5 10.5 10.5 10.5 10.5

Business Actual Q2 Q3 Q4 Q1 2023
Business Confidence (points) 49.60 48.3 51.5 52 51.2 52
Services PMI (points) 41.40 46 52 51.5 51.8 50.5
Non Manufacturing PMI (%) 47.80 51.9 52 50.9 50.9 51.3
Manufacturing PMI (points) 48.10 50.5 51 51.3 50.3 51.3
Industrial Production (%) 0.70 1.5 4.1 4.8 5.7 4.1
Industrial Production Mom (%) 5.61 1.4 0.2 0.3 0.5 0.3
Manufacturing Production (%) 0.10 3.7 4.6 4.9 5.3 4.8
Changes in Inventories (CNY HML) 10996.00 15000 15000 12000 12000 10000
Total Vehicle Sales (Units) 1860000.00 2110000 2001010 2150000 2150000 2050000
Car Production (Units) 1701000.00 1600000 2100000 2300000 2500000 2700000
Car Registrations 1623000.00 1700000 1750000 2000000 2200000 2400000
Leading Economic Index (points) 97.47 100 105 110 110 110
Capacity Utilization (%) 75.80 76.7 76.8 77 77.3 77
Composite PMI (points) 42.20 45 51.3 50.6 51.5 50.6
Cement Production (Ten Thousands of Tonnes) 20279.54 21500 21500 20000 20000 20000
Electricity Production (Gigawatt-hour) 608600.00 650000 640000 700000 680000 720000
Corporate Profits (CNY Million) 3441000.00 4300000 6500000 8900000 2000000 9000000
Mining Production (%) 7.00 7.9 6.3 5 4.2 5
Steel Production (Thousand Tonnes) 96600.00 79000 80000 85000 85000 85000

Consumer Actual Q2 Q3 Q4 Q1 2023
Consumer Confidence (points) 86.70 100 117 120 122 120
Retail Sales MoM (%) 0.05 0.3 0.5 0.6 0.6 0.6
Retail Sales YoY (%) -6.70 -5 2 4 3.1 3
Consumer Spending (CNY HML) 438849.40 402663 400727 455965 458598 480587
Disposable Personal Income (CNY) 47412.00 45587 45368 49261 49546 51921
Gasoline Prices (USD/Liter) 1.00 1.04 1.07 1.11 1.15 1.15
Consumer Credit (CNY HML) 544759.96 536773 547014 562752 569949 593140
Households Debt To GDP (% of GDP) 61.60 70 70 74 74 76

Housing Actual Q2 Q3 Q4 Q1 2023
Housing Index (%) -0.10 1.8 3.8 3.3 3.3 3.5
New Home Sales (CNY HML) 42317.00 50500 67000 100500 80000 80000


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. China Forecast - was last updated on Wednesday, June 29, 2022.