Markets Actual Q4 Q1 Q2 Q3 2022
Currency 6.38 6.39 6.41 6.43 6.45 6.49
Stock Market (points) 3589.31 3522 3439 3357 3277 3124
Government Bond 10Y (%) 2.83 2.94 2.97 3 3.02 3.08

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 0.20 1.3 1.5 1.5 1.2 1.1
GDP Annual Growth Rate (%) 4.90 5.3 5.6 6 5.5 5.9
Unemployment Rate (%) 4.90 4.9 4.8 4.8 5 5.2
Inflation Rate (%) 1.50 2 2.5 2 1.9 1.8
Inflation Rate Mom (%) 0.70 0.3 -0.2 0.3 0.2 0.2
Interest Rate (%) 3.85 3.85 3.85 3.85 3.85 3.85
Cash Reserve Ratio (%) 11.50 11.5 11.5 11 11 11
Balance of Trade (USD HML) 717.20 710 620 700 850 910
Current Account (USD HML) 801.00 940 250 600 600 400
Current Account to GDP (% of GDP) 1.90 1.3 0.9 0.9 0.9 0.9
Government Debt to GDP (% of GDP) 66.80 69 72 72 72 70
Government Budget (% of GDP) -3.70 -3.2 -3 -3 -3 -3
Business Confidence (points) 50.10 50 51.8 51.6 51.5 52
Services PMI (points) 52.10 50.2 52 51 50.5 51.5
Manufacturing PMI (points) 49.90 50.3 50.5 50.5 51 51.3
Non Manufacturing PMI (%) 52.30 51 50.8 51 52 50.9
Consumer Confidence (points) 120.20 120 118 119 117 120
Retail Sales MoM (%) 0.43 0.3 1.1 0.3 0.5 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 Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 0.20 1.3 1.5 1.5 1.2 1.1
GDP Annual Growth Rate (%) 4.90 5.3 5.6 6 5.5 5.9
GDP (USD Billion) 14722.73 15600 16700 16700 16700 16700
Gross National Product (CNY HML) 1009151.00 979603 1065663 1069700 1064654 1125332
Gross Fixed Capital Formation (CNY HML) 435682.60 411449 460081 461824 459645 485841
GDP per capita (USD) 10430.73 8840 9020 9020 9020 9020
GDP per capita PPP (USD) 16410.80 17700 18210 18210 18210 18210
GDP From Agriculture (CNY HML) 51430.10 76881 11967 30106 54259 86706
GDP From Construction (CNY HML) 54537.50 73406 12690 35335 57537 81399
GDP From Manufacturing (CNY HML) 267640.10 362422 85505 185082 282360 349114
GDP From Services (CNY HML) 450761.40 557688 153495 314408 475553 617754
GDP From Transport (CNY HML) 35457.00 48159 10631 24066 37407 46347
GDP Constant Prices (CNY HML) 791907.10 1069248 258889 544297 835462 1016110

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 4.90 4.9 4.8 4.8 5 5.2
Employed Persons (Tens of Thousands ) 78657.00 78820 79000 79000 79000 77820
Unemployed Persons (Tens of Thousands ) 1016.00 1060 1000 920 910 950
Wages (CNY/Year) 97379.00 102500 108100 108100 108100 108100
Wages in Manufacturing (CNY/Year) 82783.00 84100 87600 87600 87600 87600
Minimum Wages (CNY/Month) 2480.00 2540 2650 2650 2650 2650
Population (Million) 1443.50 1465 1495 1495 1495 1495
Retirement Age Women 55.00 50 50 50 50 50
Retirement Age Men 60.00 60 60 60 60 60

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 1.50 2 2.5 2 1.9 1.8
Inflation Rate Mom (%) 0.70 0.3 -0.2 0.3 0.2 0.2
Consumer Price Index CPI (points) 101.30 114 104 102 103 116
Core Consumer Prices (points) 101.30 108 101 102 102 102
Core Inflation Rate (%) 1.30 1.3 1.2 0.9 0.8 0.5
GDP Deflator (points) 698.12 712 716 712 711 725
Producer Prices (points) 113.10 106 106 106 106 106
Producer Prices Change (%) 13.50 10.9 6.7 4 3.9 3
Export Prices (points) 108.10 108 107 107 105 108
Import Prices (points) 117.00 115 110 105 100 102
Food Inflation (%) -2.40 0.4 1.9 2.1 2.9 3

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 3.85 3.85 3.85 3.85 3.85 3.85
Cash Reserve Ratio (%) 11.50 11.5 11.5 11 11 11
Interbank Rate (%) 3.70 3.7 3.7 3.7 3.7 3.7
Money Supply M0 (CNY Billion) 8610.00 8887 9210 9210 8900 9220
Money Supply M1 (CNY Billion) 62610.00 63000 63300 63300 61000 60841
Money Supply M2 (CNY Billion) 233620.00 237000 239000 239000 228000 225000
Foreign Exchange Reserves (USD Million) 3217614.00 3190000 3190000 3190000 3270000 3200000
Central Bank Balance Sheet (CNY HML) 394919.35 390000 350000 340000 350000 370063
Banks Balance Sheet (CNY Billion) 826.20 1300 1700 1400 1300 1200
Loans to Private Sector (CNY HML) 15900.00 21000 25000 35000 32000 25000
Deposit Interest Rate (%) 0.35 0.35 0.35 0.35 0.35 0.35
Loan Growth (%) 11.90 11.9 12.2 12.2 12.5 13
Fixed Asset Investment (%) 6.10 6.3 5.1 4.2 4 3.9
Lending Rate (%) 4.35 4.35 4.35 4.35 4.35 4.35
Reverse Repo Rate (%) 2.20 2.2 2.2 2.2 2.2 2.2

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (USD HML) 717.20 710 620 700 850 910
Current Account (USD HML) 801.00 940 250 600 600 400
Current Account to GDP (% of GDP) 1.90 1.3 0.9 0.9 0.9 0.9
Imports (USD HML) 2156.80 2200 2380 2340 2250 2200
Exports (USD HML) 3002.20 2910 3000 3040 3100 3110
External Debt (USD HML) 24007.90 25000 24500 24500 24500 24500
Terms of Trade (points) 92.39 94.8 97.27 102 105 106
Capital Flows (USD HML) -801.00 -150 240 230 400 250
Foreign Direct Investment (USD HML) 1420.10 1200 970 970 1000 1500
Tourist Arrivals (Tens of Thousands ) 0.00 500 800 1000 1000 1200
Crude Oil Production (BBL/D/1K) 3973.00 4290 3920 3960 3890 3810
Tourism Revenues (CNY Trillion) 6.63 2 4.5 4.5 4.5 4.5

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 66.80 69 72 72 72 70
Government Budget (% of GDP) -3.70 -3.2 -3 -3 -3 -3
Government Budget Value (CNY Billion) -170.10 -720 -720 -720 -720 -450
Government Spending (CNY HML) 245679.00 28500 29100 29100 29100 29100
Government Revenues (CNY HML) 17506.00 14000 17000 21000 21000 15000
Fiscal Expenditure (CNY HML) 14668.00 39000 25000 29000 29000 40000

Taxes Actual Q4 Q1 Q2 Q3 2022
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 (%) 48.00 48 48 48 48 48
Social Security Rate For Companies (%) 27.00 37 37 27 27 27
Social Security Rate For Employees (%) 11.00 11 11 11 11 11

Business Actual Q4 Q1 Q2 Q3 2022
Business Confidence (points) 50.10 50 51.8 51.6 51.5 52
Services PMI (points) 52.10 50.2 52 51 50.5 51.5
Manufacturing PMI (points) 49.90 50.3 50.5 50.5 51 51.3
Non Manufacturing PMI (%) 52.30 51 50.8 51 52 50.9
Industrial Production (%) 3.50 5 4.5 4.5 4.1 5.5
Industrial Production Mom (%) 0.39 0.5 0.4 0.4 0.2 0.3
Manufacturing Production (%) 2.50 4.9 5 4.7 4.6 4.9
Changes in Inventories (CNY HML) 6718.00 8000 15000 15000 15000 12000
Total Vehicle Sales (Units) 2330000.00 2500000 2320000 2110000 2001010 2150000
Car Production (Units) 1988000.00 1900000 2000000 2300000 2100000 2500000
Car Registrations 2007000.00 1900000 1700000 1700000 1750000 2400000
Leading Economic Index (points) 95.40 100 102 105 105 110
Capacity Utilization (%) 77.10 77 76.8 76.7 76.8 77
Composite PMI (points) 51.20 51.6 51.4 51 51.3 50.6
Cement Production (Ten Thousands of Tonnes) 20140.24 19000 18100 21500 21500 20000
Electricity Production (Gigawatt-hour) 675120.00 713000 640000 650000 670000 700000
Corporate Profits (CNY Million) 7164990.00 6850000 200000 4300000 6500000 7150000
Mining Production (%) 6.00 4.8 1.9 1.9 1.1 2
Steel Production (Thousand Tonnes) 71600.00 70000 72000 79000 80000 85000

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) 120.20 120 118 119 117 120
Retail Sales MoM (%) 0.43 0.3 1.1 0.3 0.5 0.6
Retail Sales YoY (%) 4.90 2.1 0.9 1.4 2 4
Consumer Spending (CNY HML) 387176.10 377089 408858 410407 408471 431751
Disposable Personal Income (CNY) 43834.00 46616 46289 46464 46245 48880
Bank Lending Rate (%) 2.95 2.95 2.95 2.95 2.95 2.95
Gasoline Prices (USD/Liter) 1.06 0.66 0.96 0.91 0.86 0.82
Consumer Credit (CNY HML) 533070.96 441628 530896 547096 557585 544793
Households Debt To GDP (% of GDP) 61.30 64 67 70 70 74

Housing Actual Q4 Q1 Q2 Q3 2022
Housing Index (%) 3.40 3 3.9 3.8 3.8 3.3
New Home Sales (CNY HML) 132902.00 110500 100500 100500 103700 125500


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 Tuesday, December 7, 2021.