China GDP Annual Growth Rate  1989-2017 | Data | Chart | Calendar

The Chinese economy advanced 6.8 percent year-on-year in the third quarter of 2017, following a 6.9 percent growth in the previous two periods and matching market consensus. It was the weakest pace of expansion since the fourth quarter of 2016, as fixed-asset investment rose the least in nearly 18 years while industrial output and retail sales increased further. GDP Annual Growth Rate in China averaged 9.69 percent from 1989 until 2017, 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.

China GDP Annual Growth Rate
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China GDP Growth Eases to 6.8% in Q3


The Chinese economy advanced 6.8 percent year-on-year in the third quarter of 2017, following a 6.9 percent growth in the previous two periods and matching market consensus. It was the weakest pace of expansion since the fourth quarter of 2016, as fixed-asset investment rose the least in nearly 18 years while industrial output and retail sales increased further.

The latest figures came in as the Communist Party holds its five-yearly congress to decide the leadership team around President Xi Jinping and the party's direction for the next half-decade and beyond.

From January to September 2017, non-farm fixed asset investment in China went up 7.5 percent year-on-year to CNY 458,478 billion, easing from a 7.8 percent in the first eight months of the year and missing market expectations of 7.7 percent. It was the weakest gain in fixed asset investment since January to December 1999, as private investment growth eased to 6 percent from 6.4 percent in January-August 2017, and public investment rose 11 percent, also below 11.2 percent in the previous period. By industry, fixed investment increased at a softer rate for power (1.7 percent from 2.6 percent in January-August) and railway transport (0.5 percent from 4.2 percent), and contracted for ferrous metal mining (-23.5 percent from -22.3 percent), non-ferrous metal mining (-20.8 percent from -20.4 percent) and non-metal mineral mining (-13.7 percent from -10.9 percent). By contrast, investment in oil and gas extraction jumped 12.4 percent, following a 6.9 percent gain until August.

In September, industrial production rose 6.6 percent year-on-year, following a 6.0 percent gain in the prior month and beating market expectations of 6.2 percent. It was the steepest increase in industrial production since June, as output grew further for both manufacturing (8.1 percent from 6.9 percent in August) and electricity, gas and water production (7.8 percent from 8.7 percent). On the other hand, mining production continued to decline (-3.8 percent from -3.4 percent). On a monthly basis, industrial production grew by 0.56 percent.

Retail sales rose 10.3 percent from a year earlier in September, following a 10.1 percent increase in the previous month and slightly above market consensus of 10.2 percent. Sales went up at faster for: Oil, oil products (8.5 percent from 4.5 percent in August); building materials (9.5 percent from 8.8 percent); furniture (15.5 percent from 11.3 percent); and personal care (7.8 percent from 7.0 percent). Meantime, sales increased at a softer rate for: garments (6.2 percent from 8.9 percent); cosmetics (13.4 percent from 14.7 percent); jewelry (5.3 percent from 6.4 percent); home appliances (6.8 percent from 8.4 percent); office supplies (4.4 percent from 5.8 percent); and telecoms (3.8 percent from 12.2 percent). Sales of automobiles grew 7.9 percent, the same pace as in August. On a monthly basis, retail sales rose 0.9 percent.

Figures released earlier showed exports increased by 8.1 percent year-on-year to USD 198.3 billion, following a 5.5 percent rise in the prior month but below estimates of an 8.8 percent growth. Imports rose 18.7 percent to USD 169.8 billion, after a 13.3 percent rise a month earlier and higher than market consensus of a 13.5 percent rise.

For 2017, the Chinese government expects the economy to grow by around 6.5 percent, slightly below last year's 26-year low of 6.7 percent. Regarding property sectors, Beijing's efforts to slash debt levels and curb property speculation started to show an effect on overall growth.

On a quarterly basis, the economy advanced by 1.7 percent in the third quarter of 2017, compared to an upwardly revised 1.8 percent expansion in the previous three months and in line with market estimates. 


National Bureau of Statistics l Rida Husna | rida@tradingeconomics.com
10/19/2017 7:53:27 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-04-17 02:00 AM GDP Growth Rate YoY 6.9% 6.8% 6.8% 6.8%
2017-07-17 02:00 AM GDP Growth Rate YoY 6.9% 6.9% 6.8% 6.8%
2017-10-19 02:00 AM GDP Growth Rate YoY 6.8% 6.9% 6.8% 6.8%


China GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.70 1.80 2.40 1.30 percent [+]
GDP Annual Growth Rate 6.80 6.90 15.40 3.80 percent [+]
GDP 11199.15 11064.66 11199.15 47.21 USD Billion [+]
Gross National Product 742352.00 673837.10 742352.00 679.00 CNY HML [+]
Gross Fixed Capital Formation 318911.50 292396.50 318911.50 80.70 CNY HML [+]
GDP per capita 6894.50 6496.60 6894.50 132.00 USD [+]
GDP per capita PPP 14400.90 13569.90 14400.90 1526.40 USD [+]
GDP Constant Prices 593288.00 381490.00 744127.00 5262.80 CNY HML [+]
GDP From Agriculture 41229.00 21987.00 63671.00 649.30 CNY HML [+]
GDP From Construction 37265.00 22326.30 49522.00 181.90 CNY HML [+]
GDP From Manufacturing 201736.00 131243.70 228974.00 2207.80 CNY HML [+]
GDP From Services 313951.00 206516.00 384221.00 2212.70 CNY HML [+]
GDP From Transport 27167.00 17474.50 33355.00 393.20 CNY HML [+]


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. This page provides - China GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. China GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on October of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
6.80 6.90 15.40 3.80 1989 - 2017 percent Quarterly




gdp annual growth rate by Country

Last
China 6.80 Sep/17
India 5.70 Jun/17
Turkey 5.10 Jun/17
Indonesia 5.01 Jun/17
Canada 3.70 Jun/17
Netherlands 3.30 Jun/17
Spain 3.10 Jun/17
South Korea 2.70 Jun/17
Russia 2.50 Jun/17
Euro Area 2.30 Jun/17
United States 2.20 Jun/17
Germany 2.10 Jun/17
Australia 1.80 Jun/17
France 1.80 Jun/17
Mexico 1.80 Jun/17
Italy 1.50 Jun/17
United Kingdom 1.50 Jun/17
Japan 1.40 Jun/17
Brazil 0.30 Jun/17
Switzerland 0.30 Jun/17