Markets Actual Q1 Q2 Q3 Q4 2020
Currency 6.80 6.9 6.93 6.97 7 7.06
Stock Market (points) 2613.53 2425 2385 2346 2307 2232
Government Bond 10Y (%) 3.12 3.24 3.27 3.3 3.34 3.41
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 1.50 1.3 1.4 1.2 1.2 1.1
GDP Annual Growth Rate (%) 6.40 6.5 6.5 6.4 6.3 5.8
Unemployment Rate (%) 3.82 4 4.2 4.2 4 4
Inflation Rate (%) 1.90 2.4 2.5 2.4 2.5 2.6
Inflation Rate Mom (%) 0.00 0.21 0.18 0.19 0.3 0.2
Interest Rate (%) 4.35 4.5 4.5 4.5 4.5 5.5
Cash Reserve Ratio (%) 13.50 14.5 14 14 14 13
Balance of Trade (USD HML) 570.60 75 105 95 460 350
Current Account (USD HML) 233.00 -138 72.22 118 121 80.28
Current Account to GDP (%) 1.30 0.8 0.8 0.8 0.8 1
Government Debt to GDP (%) 47.60 48.7 48.7 48.7 48.7 50.2
Government Budget (% of GDP) -3.50 -3.8 -3.8 -3.8 -3.8 -3.4
Business Confidence (Index Points) 49.40 51.6 52 51.3 50.9 51
Manufacturing PMI 49.70 51.6 50.9 50.8 52.3 50.1
Non Manufacturing PMI (%) 53.80 53 52.6 54.2 54 52
Services PMI (Index Points) 53.90 52.3 53 52.38 51.9 52
Retail Sales MoM (%) 0.51 0.7 0.4 0.2 0.4 0.5
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 45.00 45 45 45 45 45
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 1.50 1.3 1.4 1.2 1.2 1.1
GDP Annual Growth Rate (%) 6.40 6.5 6.5 6.4 6.3 5.8
GDP (USD Billion) 12237.70 13200 13200 13200 13200 13900
Gross National Product (CNY HML) 824828.40 851635 851635 851223 876793 927647
Gross Fixed Capital Formation (CNY HML) 346440.80 357700 357700 357527 368267 389626
GDP per capita (USD) 7329.09 7950 7950 7950 7950 8330
GDP per capita PPP (USD) 15308.71 16800 16800 16800 16800 18450
GDP From Agriculture (CNY HML) 42173.00 9193 22805 43523 44830 47430
GDP From Construction (CNY HML) 41590.00 10206 26805 44252 44210 46774
GDP From Manufacturing (CNY HML) 222165.00 70331 149358 229274 236161 249859
GDP From Services (CNY HML) 345773.00 116082 234972 356838 367557 388875
GDP From Transport (CNY HML) 29556.00 9149 19661 30502 31418 33240
GDP Constant Prices (CNY HML) 650899.00 205244 432577 671728 691906 732036
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 3.82 4 4.2 4.2 4 4
Employed Persons (Tens of Thousands ) 77640.00 77740 77740 77688 77740 77820
Wages (CNY/Year) 74318.00 84100 84100 84100 84100 88300
Wages in Manufacturing (CNY/Year) 64452.00 74500 74500 74500 74500 79500
Minimum Wages (CNY/Month) 2420.00 2540 2540 2540 2540 2630
Population (Million) 1390.08 1407 1407 1404 1407 1415
Retirement Age Women 50.00 50 50 50 50 50
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 1.90 2.4 2.5 2.4 2.5 2.6
Inflation Rate Mom (%) 0.00 0.21 0.18 0.19 0.3 0.2
Consumer Price Index CPI (Index Points) 101.90 104 104 105 105 107
Core Consumer Prices (Index Points) 101.80 104 104 103 104 106
Producer Prices (Index Points) 100.90 107 109 108 107 112
Producer Prices Change (%) 0.90 3.9 4.2 4 3.8 5.5
Food Inflation (%) 2.50 2 2.2 2.2 2.2 2
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 4.35 4.5 4.5 4.5 4.5 5.5
Cash Reserve Ratio (%) 13.50 14.5 14 14 14 13
Interbank Rate (%) 2.95 4.12 4.12 4.12 4.12 4.12
Banks Balance Sheet (CNY Billion) 1080.00 1222 1223 1224 1224 1223
Loans to Private Sector (CNY HML) 15900.00 13994 14683 14970 14999 14961
Deposit Interest Rate (%) 0.35 0.5 0.5 0.5 0.5 0.5
Loan Growth (%) 13.50 12.5 12.4 13.1 12 11.7
Reverse Repo Rate (%) 2.55 2.65 2.65 2.65 3 3.5
Fixed Asset Investment (%) 5.90 6.4 6.5 6.4 6.4 6.2
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD HML) 570.60 75 105 95 460 350
Current Account (USD HML) 233.00 -138 72.22 118 121 80.28
Current Account to GDP (%) 1.30 0.8 0.8 0.8 0.8 1
Imports (USD HML) 1641.94 1800 1750 1820 1940 2000
Exports (USD HML) 2212.49 1950 1960 2010 2000 2130
External Debt (USD HML) 17106.00 18500 18500 16581 18500 19000
Terms of Trade (Index Points) 99.09 94.66 94.81 94.7 94.8 94.8
Foreign Direct Investment (USD HML) 1349.70 747 1000 717 1400 1500
Tourist Arrivals (Tens of Thousands ) 2917.00 3050 3050 2978 3050 3100
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 47.60 48.7 48.7 48.7 48.7 50.2
Government Budget (% of GDP) -3.50 -3.8 -3.8 -3.8 -3.8 -3.4
Government Budget Value (CNY HML) -286.50 -273 -60 -537 -530 -496
Government Spending (CNY HML) 203330.00 216546 216546 216343 216140 228676
Government Revenues (CNY HML) 10775.00 15000 18600 15021 12200 13000
Fiscal Expenditure (CNY HML) 16431.00 22500 28800 18378 25300 26800
Military Expenditure (USD Million) 228173.00 280000 280000 244916 280000 300000
Taxes Actual Q1 Q2 Q3 Q4 2020
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 45.00 45 45 45 45 45
Sales Tax Rate (%) 16.00 16 16 16 16 16
Social Security Rate (%) 48.00 48 48 48 48 48
Social Security Rate For Companies (%) 37.00 37 37 37 37 37
Social Security Rate For Employees (%) 11.00 11 11 11 11 11
Business Actual Q1 Q2 Q3 Q4 2020
Business Confidence (Index Points) 49.40 51.6 52 51.3 50.9 51
Manufacturing PMI 49.70 51.6 50.9 50.8 52.3 50.1
Non Manufacturing PMI (%) 53.80 53 52.6 54.2 54 52
Services PMI (Index Points) 53.90 52.3 53 52.38 51.9 52
Industrial Production (%) 5.70 6.2 6 6.5 5.7 5.2
Industrial Production Mom (%) 0.36 0.48 0.1 0.2 0.5 0.3
Manufacturing Production (%) 5.60 6.1 6.2 5.9 5.8 5.5
Mining Production (%) 2.30 -0.5 -0.4 2.88 0.7 1.2
Capacity Utilization (%) 76.00 77.3 77.4 77.5 78.2 77.5
Composite Pmi 52.20 51.4 52.4 52.2 52 52.4
Corporate Profits (CNY Million) 6116880.00 1720000 3800000 8200000 8200000 8250000
Consumer Actual Q1 Q2 Q3 Q4 2020
Retail Sales MoM (%) 0.51 0.7 0.4 0.2 0.4 0.5
Retail Sales YoY (%) 8.20 8.5 8.1 7.7 8 8
Consumer Spending (CNY HML) 317509.70 327829 327829 327670 337513 357089
Bank Lending Rate (%) 4.35 4.5 4.5 4.5 4.5 4.5
Gasoline Prices (USD/Liter) 0.75 0.73 0.71 0.69 0.68 0.68
Households Debt To GDP (% of GDP) 50.30 50 51 51 53 55
Housing Actual Q1 Q2 Q3 Q4 2020
Housing Index (%) 9.70 8.5 8 7.8 7 6


This page has economic forecasts for China including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the China economy.