The Chinese economy advanced 4.9% yoy in Q3 2020, faster than a 3.2% expansion in Q2 but below forecasts of a 5.2% growth. Despite the lower-than-expected reading, there are signs the expansion is finally extending to consumption after a state-backed industrial recovery. Retail sales rose 3.3% yoy in September, above forecasts and the highest reading so far this year. Industrial production went up 6.9%, also higher than expected and the biggest gain in 2020. For the first nine months of the year, the economy expanded 0.7%, recovering all the ground it lost in the first half, with the primary industry increasing 2.3%, the secondary 0.9% and the services sector 0.4%. Rising global demand for medical equipment and work-from-home technology has been boosting exports while government support including more fiscal spending, tax relief and cuts in lending rates and banks' reserve requirements has also helped to boost the recovery. source: National Bureau of Statistics of China

GDP Annual Growth Rate in China averaged 9.23 percent from 1989 until 2020, reaching an all time high of 15.30 percent in the first quarter of 1993 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 December of 2020.

GDP Annual Growth Rate in China is expected to be 5.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in China to stand at 5.30 in 12 months time. In the long-term, the China GDP Annual Growth Rate is projected to trend around 5.60 percent in 2021 and 5.90 percent in 2022, according to our econometric models.

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China GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.90 3.20 15.30 -6.80 1989 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-01-17 02:00 AM Q4 6% 6% 6% 5.9%
2020-04-17 02:00 AM Q1 -6.8% 6% -6.5% -6.2%
2020-07-16 02:00 AM Q2 3.2% -6.8% 2.5% 2.4%
2020-10-19 02:00 AM Q3 4.9% 3.2% 5.2% 5.1%
2021-01-15 02:00 AM Q4 4.9% 5.6%
2021-04-17 02:00 AM Q1
2021-07-16 02:00 AM Q2
2021-10-19 02:00 AM Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
China GDP Growth Accelerates in Q3
The Chinese economy advanced 4.9% yoy in Q3 2020, faster than a 3.2% expansion in Q2 but below forecasts of a 5.2% growth. Despite the lower-than-expected reading, there are signs the expansion is finally extending to consumption after a state-backed industrial recovery. Retail sales rose 3.3% yoy in September, above forecasts and the highest reading so far this year. Industrial production went up 6.9%, also higher than expected and the biggest gain in 2020. For the first nine months of the year, the economy expanded 0.7%, recovering all the ground it lost in the first half, with the primary industry increasing 2.3%, the secondary 0.9% and the services sector 0.4%. Rising global demand for medical equipment and work-from-home technology has been boosting exports while government support including more fiscal spending, tax relief and cuts in lending rates and banks' reserve requirements has also helped to boost the recovery.
2020-10-19
China Economy Returns to Growth in Q2
The Chinese economy grew by 3.2 percent year-on-year in the second quarter of 2020, rebounding from a record 6.8 percent contraction in the previous three-month period and beating market consensus of a 2.5 percent expansion. The country became the first major economy to report growth following the coronavirus pandemic, as factories and stores reopened following months of coronavirus-induced restrictions. However, a continuing fall in retail trade underlined weakness in consumer spending and the need for more support from Beijing to accelerate the economic recovery. Considering the first half of the year, the economy contracted by 1.6 percent over the same period of 2019.
2020-07-16
China Posts First GDP Contraction on Record
The Chinese economy shrank 6.8 percent year-on-year in the March quarter of 2020, after a 6 percent growth in the previous period and compared with market consensus of a 6.5 percent decline. This was the first contraction since the report began in 1992, reflecting severe damage caused by the COVID19 outbreak and raising pressure on authorities to shore up growth amid mounting job losses and concerns over social stability while keeping debts and financial risks under control.
2020-04-17
China 2019 GDP Growth Weakest in 29 Years
The Chinese economy advanced 6.0 percent year-on-year in the December quarter of 2019, the same as in the previous quarter and matching market expectations. This remained the weakest growth rate since the first quarter of 1992, amid trade pressure from the US and sluggish demand from home and abroad. Considering full 2019, the economy grew by 6.1 percent, the slowest pace in 29 years but still within the government's target of 6 to 6.5 percent. In 2020, the economy is expected to remain under pressure. Although the Phase One trade deal with the US eased trade tensions and increased business optimism, existing tariffs will remain in place and further monetary easing will be needed to boost domestic demand.
2020-01-17

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.