The Chinese economy grew by a seasonally adjusted 1.0% in Q4 of 2023, matching market expectations but moderating from an upwardly revised 1.5% increase in Q3. This was the sixth consecutive period of quarterly expansion, with weakness in the property sector continuing to drag on the broader economic recovery. At the same time, the government seemed reluctant to deliver a major stimulus package due to attempts to control mounting government debts. Beijing in October outlined a massive CNY 1 trillion bond issuance to spur infrastructure spending. However, any more debt issuances are expected to be limited. Meanwhile, the PBoC has carried out liquidity injections to support the economy, but economists believe it has limited space to loosen monetary conditions further. “We must effectively enhance economic vitality, prevent and mitigate risks, improve social expectations, consolidate and boost the sound momentum of economic recovery and growth," the statistics bureau said in a statement. source: National Bureau of Statistics of China

The Gross Domestic Product (GDP) in China expanded 1 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in China averaged 1.60 percent from 2010 until 2023, reaching an all time high of 11.50 percent in the second quarter of 2020 and a record low of -10.40 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 March of 2024.

The Gross Domestic Product (GDP) in China expanded 1 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in China is expected to be 0.90 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 1.00 percent in 2025 and 1.20 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-10-18 02:00 AM
GDP Growth Rate QoQ
Q3 1.3% 0.5% 1% 0.9%
2024-01-17 02:00 AM
GDP Growth Rate QoQ
Q4 1% 1.5% 1% 1.1%
2024-04-16 02:00 AM
GDP Growth Rate QoQ
Q1 1% 0.9%


Related Last Previous Unit Reference
Full Year GDP Growth 5.20 3.00 percent Dec 2023
GDP Growth Rate YoY 5.20 4.90 percent Dec 2023
GDP Constant Prices 1191037.30 859053.30 CNY Hundred Million Dec 2023
GDP from Agriculture 89755.20 56330.10 CNY Hundred Million Dec 2023
GDP from Construction 85691.10 58706.10 CNY Hundred Million Dec 2023
GDP from Manufacturing 399103.10 291714.90 CNY Hundred Million Dec 2023
GDP from Services 688238.40 507476.20 CNY Hundred Million Dec 2023
GDP from Transport 57819.80 43123.90 CNY Hundred Million Dec 2023
GDP Growth Rate 1.00 1.50 percent Dec 2023
Gross Fixed Capital Formation 504835.00 478901.20 CNY Hundred Million Dec 2022
Gross National Product 1251297.00 1197250.40 CNY Hundred Million Dec 2023

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
1.00 1.50 11.50 -10.40 2010 - 2023 percent Quarterly
SA

News Stream
Chinese Economy Expands 1.0% QoQ in Q4
The Chinese economy grew by a seasonally adjusted 1.0% in Q4 of 2023, matching market expectations but moderating from an upwardly revised 1.5% increase in Q3. This was the sixth consecutive period of quarterly expansion, with weakness in the property sector continuing to drag on the broader economic recovery. At the same time, the government seemed reluctant to deliver a major stimulus package due to attempts to control mounting government debts. Beijing in October outlined a massive CNY 1 trillion bond issuance to spur infrastructure spending. However, any more debt issuances are expected to be limited. Meanwhile, the PBoC has carried out liquidity injections to support the economy, but economists believe it has limited space to loosen monetary conditions further. “We must effectively enhance economic vitality, prevent and mitigate risks, improve social expectations, consolidate and boost the sound momentum of economic recovery and growth," the statistics bureau said in a statement.
2024-01-17
China Economy Expands 1.3% QoQ in Q3
The Chinese economy grew by a seasonally adjusted 1.3 percent in Q3 of 2023, topping market expectations of 1.0 percent and sharply accelerating from a downwardly revised 0.5 percent increase in Q2. This was the fifth consecutive period of quarterly expansion, buoyed by a slew of monetary stimulus measures over the past three months, including interest rate cuts and constant liquidity injections by the country's central bank. Meantime, the property sector remains a drag on the economy, as China’s biggest property developers faced a large-scale default. “The national economy continued to recover, and high-quality development was solidly advanced, laying a solid foundation to attain the annual development goals,” China’s statistics bureau said in a statement. "We must also note that the external environment is becoming more complex and severe, domestic demand is still insufficient, and the foundation for economic recovery still needs to be consolidated.”
2023-10-18
Chinese Economy Expands 0.8% QoQ in Q2
The Chinese economy grew by a seasonally adjusted 0.8 percent in the second quarter of 2023, surpassing market expectations of a 0.5 percent increase but slowing sharply from the 2.2 percent expansion observed in the previous quarter. While this marks the fourth consecutive quarter of economic expansion, it also highlights that the recovery in the world's second-largest economy is losing momentum and remains uneven due to the ongoing property downturn, the possibility of disinflation, record high unemployment rates among young adults, and declining exports. These factors are causing concern among policymakers, and there is mounting pressure on them to implement new stimulus measures. Central bank interest rate cuts and further easing of property controls are being considered as potential measures to address the economic challenges.
2023-07-17