The Chinese economy expanded 4.8% yoy in Q1 of 2022, above market consensus of 4.4% and faster than a 4.0% growth in the previous period. However, the risk of a sharp slowdown in the coming months heightened, amid widespread COVID-19 lockdowns, a prolonged downturn in the property sector and uncertainty from the war in Ukraine. Meantime, separate data on March activity showed retail sales fell 3.5% yoy, down for the 1st time since July 2020, and worse than market expectations. Analysts say that April data will likely weaken further, dragging down by strict restrictions in the financial hub of Shanghai. In addition, the job market is already showing signs of stress, with China's nationwide survey-based jobless rate at 5.8%, the highest since May 2020, and up from 5.5% in February. For 2022, Beijing has targeted the economy to grow around 5.5% as headwinds gather, slowing from a 8.1% expansion last year, which was the steepest pace in nearly a decade, and after a 2.2% growth in 2020. source: National Bureau of Statistics of China

GDP Annual Growth Rate in China averaged 9.16 percent from 1989 until 2022, reaching an all time high of 18.30 percent in the first quarter of 2021 and a record low of -6.80 percent in the first quarter of 2020. This page provides - China GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. China GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.

GDP Annual Growth Rate in China is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China GDP Annual Growth Rate is projected to trend around 5.40 percent in 2023, according to our econometric models.

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China GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-01-17 02:00 AM Q4 4.0% 4.9% 3.6% 3.7%
2022-04-18 02:00 AM Q1 4.8% 4% 4.4% 4.2%
2022-07-15 02:00 AM Q2 4.8%


Related Last Previous Unit Reference
GDP Growth Rate 1.30 1.50 percent Mar 2022
GDP Annual Growth Rate 4.80 4.00 percent Mar 2022
Gross National Product 1133518.00 1009151.00 CNY HML Dec 2021
Gross Fixed Capital Formation 478901.20 435682.60 CNY HML Dec 2021
Full Year GDP Growth 8.10 2.20 percent Dec 2021
GDP From Manufacturing 93551.50 372575.30 CNY HML Mar 2022
GDP From Construction 13029.00 80138.50 CNY HML Mar 2022
GDP From Agriculture 10953.80 83085.50 CNY HML Mar 2022
GDP Constant Prices 256322.10 1095771.20 CNY HML Mar 2022
GDP From Transport 10430.30 47061.20 CNY HML Mar 2022
GDP From Services 153037.40 609679.70 CNY HML Mar 2022
Economic Activity Index 50.80 51.70 points Oct 2021
Gdp From Mining 23696.00 22592.00 CNY HML Dec 2019

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.
Actual Previous Highest Lowest Dates Unit Frequency
4.80 4.00 18.30 -6.80 1989 - 2022 percent Quarterly

News Stream
China Q1 GDP Growth Beats Estimates
The Chinese economy expanded 4.8% yoy in Q1 of 2022, above market consensus of 4.4% and faster than a 4.0% growth in the previous period. However, the risk of a sharp slowdown in the coming months heightened, amid widespread COVID-19 lockdowns, a prolonged downturn in the property sector and uncertainty from the war in Ukraine. Meantime, separate data on March activity showed retail sales fell 3.5% yoy, down for the 1st time since July 2020, and worse than market expectations. Analysts say that April data will likely weaken further, dragging down by strict restrictions in the financial hub of Shanghai. In addition, the job market is already showing signs of stress, with China's nationwide survey-based jobless rate at 5.8%, the highest since May 2020, and up from 5.5% in February. For 2022, Beijing has targeted the economy to grow around 5.5% as headwinds gather, slowing from a 8.1% expansion last year, which was the steepest pace in nearly a decade, and after a 2.2% growth in 2020.
2022-04-18
China 2021 GDP Growth Tops Target Despite Slowdown in Q4
The Chinese economy expanded 4.0 percent year-on-year in the fourth quarter of 2021, easing from a 4.9 percent growth in the previous period but exceeding market consensus of 3.6 percent. It was the slowest pace of expansion since Q2 2020, amid multiple headwinds including a property downturn, supply chain issues, and COVID-19 outbreaks. Considering full year of 2021, the economy grew 8.1 percent, the fastest expansion in nearly a decade, exceeding the government's target of above 6 percent and following a revised 2.2% growth in 2020. Consumption expenditure contributed 65.4 percent to the 2021 GDP growth, compared with 54.3 percent in 2020, surpassing the average level of 60 percent from 2013 to 2019 but was still lower than in developed economies.
2022-01-17
China Q3 GDP Growth Lowest in a Year
The Chinese economy expanded 4.9 percent year-on-year in the third quarter of 2021, easing sharply from a 7.9 percent growth in the previous period and slightly missing market consensus of 5.2 percent. It was the slowest pace of expansion since the third quarter last year, amid several headwinds including power shortages, supply chain bottlenecks, a persistent property bubble and COVID-19 outbreaks. Considering the first three quarters of the year, the economy grew 9.8 percent from a year earlier, with final consumption accounting for 64.8 percent of GDP growth. For 2021, China has set an economic growth target of above 6% after growing the least in over four decades in 2020.
2021-10-18