According to preliminary figures, the growth of real gross domestic product (GDP) in China amounted to 5.0 percent in 2024. For 2025, the IMF expects a GDP growth rate of around 4.6 percent. Real GDP growth The current gross domestic product is an important indicator of the economic strength of a country. It refers to the total market value of all goods and services that are produced within a country per year. When analyzing year-on-year changes, the current GDP is adjusted for inflation, thus making it constant. Real GDP growth is regarded as a key indicator for economic growth as it incorporates constant GDP figures. As of 2023, China was among the leading countries with the largest gross domestic product worldwide, second only to the United States which had a GDP volume of almost 27.5 trillion U.S. dollars. The Chinese GDP has shown remarkable growth over the past years. Upon closer examination of the distribution of GDP across economic sectors, a gradual shift from an economy heavily based on industrial production towards an economy focused on services becomes visible, with the service industry outpacing the manufacturing sector in terms of GDP contribution. Key indicator balance of trade Another important indicator for economic assessment is the balance of trade, which measures the relationship between imports and exports of a nation. As an economy heavily reliant on manufacturing and industrial production, China has reached a trade surplus over the last decade, with a total trade balance of around 823 billion U.S. dollars in 2023.

China Contribution to(GDP) Gross Domestic ProductGrowth: Net Export of Goods and Service data was reported at 1.515 % in 2024. This records an increase from the previous number of -0.600 % for 2023. China Contribution to(GDP) Gross Domestic ProductGrowth: Net Export of Goods and Service data is updated yearly, averaging 0.100 % from Dec 1953 (Median) to 2024, with 72 observations. The data reached an all-time high of 4.000 % in 1994 and a record low of -6.900 % in 1985. China Contribution to(GDP) Gross Domestic ProductGrowth: Net Export of Goods and Service data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s China – Table CN.AA: Gross Domestic Product: Contribution and Share to Growth.

In 2023, the rate of surveyed unemployment in urban areas of China amounted to approximately 5.2 percent. The unemployment rate is expected to decrease slightly to 5.1 percent in 2024 and the following years. Monthly unemployment ranged at a level of around 5.2 percent in the third quarter of 2024. Unemployment rate in China In 2017, the National Statistics Bureau of China introduced surveyed unemployment as a new indicator of unemployment in the country. It is based on monthly surveys among the labor force in urban areas of China. Surveyed unemployment replaced registered unemployment figures, which were often criticized for missing out large parts of the urban labor force and thereby not presenting a true picture of urban unemployment levels. However, current unemployment figures still do not include rural areas.A main concern in China’s current state of employment lies within the large regional differences. As of 2021, the unemployment rate in northeastern regions of China was notably higher than in China’s southern parts. In Beijing, China’s political and cultural center, registered unemployment ranged at around 3.2 percent for 2021. Indicators of economic activities Apart from the unemployment rate, most commonly used indicators to measure economic activities of a country are GDP growth and inflation rate. According to an IMF forecast, GDP growth in China will decrease to about 4.8 percent in 2024, after 5.2 percent in 2023, depicting a decrease of six percentage points from 10.6 percent in 2010. Quarterly growth data published by the National Bureau of Statistics indicated 4.6 percent GDP growth for the third quarter of 2024.

China GDP: TI: Real Estate data was reported at 2,218.482 RMB bn in Dec 2024. This records an increase from the previous number of 2,016.400 RMB bn for Sep 2024. China GDP: TI: Real Estate data is updated quarterly, averaging 478.450 RMB bn from Mar 1992 (Median) to Dec 2024, with 132 observations. The data reached an all-time high of 2,412.010 RMB bn in Dec 2020 and a record low of 20.910 RMB bn in Mar 1992. China GDP: TI: Real Estate data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s China – Table CN.AA: Gross Domestic Product: Quarterly.

China Share to(GDP) Gross Domestic ProductGrowth: Net Export of Goods and Service data was reported at 30.300 % in 2024. This records an increase from the previous number of -11.400 % for 2023. China Share to(GDP) Gross Domestic ProductGrowth: Net Export of Goods and Service data is updated yearly, averaging 1.559 % from Dec 1953 (Median) to 2024, with 72 observations. The data reached an all-time high of 79.800 % in 1990 and a record low of -51.300 % in 1985. China Share to(GDP) Gross Domestic ProductGrowth: Net Export of Goods and Service data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s China – Table CN.AA: Gross Domestic Product: Contribution and Share to Growth.

In February 2025, the monthly inflation rate in China ranged at -0.7 percent compared to the same month in the previous year. Inflation had peaked at 2.8 percent in September 2022, but eased thereafter. The annual average inflation rate in China ranged at 0.2 percent in 2024. China’s inflation in comparison The term inflation means the devaluation of money caused by a permanent increase of the price level for products such as consumer or investment goods. The inflation rate is most commonly measured by the Consumer Price Index. The Consumer Price Index shows the price development for private expenses based on a basket of products representing the consumption of an average consumer household. Compared to other major economies in the world, China has a moderate and stable level of inflation. The inflation in China is on average lower than in other BRIC countries, although China enjoys higher economic growth rates. Inflation rates of developed regions in the world had for a long time been lower than in China, but that picture changed fundamentally during the coronavirus pandemic with most developed countries experiencing quickly rising consumer prices. Regional inflation rates in China In China, there is a regional difference in inflation rates. As of August 2023, Anhui province experienced the highest CPI growth, while Ningxia reported the lowest. In recent years, inflation rates in rural areas have often been slightly higher than in the cities. According to the National Bureau of Statistics of China, inflation was mainly fueled by a surge in prices for food and micellaneous items and services in recent months. The price gain in other sectors was comparatively slight. Transport prices have decreased recently, but had grown significantly in 2021 and 2022.

Unemployment Rate in China increased to 5.40 percent in February from 5.20 percent in January of 2025. This dataset provides - China Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the annual real growth of the gross domestic product (GDP) in different regions in China varied from around 6.3 percent in Tibet autonomous region to 2.3 percent in Shanxi province. The average national GDP growth ranged at 5.0 percent in 2024.

Retail Sales in China increased 4 percent in February of 2025 over the same month in the previous year. This dataset provides - China Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news.

According to preliminary data, the agricultural sector contributed around 6.8 percent to the gross domestic product (GDP) of China in 2024, whereas 36.5 percent of the economic value added originated from the industrial sector and 54.6 percent from the service sector, respectively. The total GDP of China at current prices amounted to approximately 134.91 trillion yuan in 2024. Economic development in China The gross domestic product (GDP) serves as a primary indicator to measure the economic performance of a country or a region. It is generally defined as the monetary value of all finished goods and services produced within a country in a specific period of time. It includes all of private and public spending, government spending, investments, and net exports which are calculated as total exports minus imports. In other words, GDP represents the size of the economy.With its national economy growing at an exceptional annual growth rate of above nine percent for three decades in succession, China had become the worlds’ second largest economy by 2010, surpassing all other economies but the United States. Even though China's GDP growth has cooled down in recent years, its economy still expanded at roughly two times the pace of the United States in 2024. Breakdown of GDP in China When compared to other developed countries, the proportions of agriculture and industry in China's GDP are significantly higher. Even though agriculture is a major industry in the United States, it only accounted for about one percent of the economy in 2023. While the service sector contributed to more than 70 percent of the economy in most developed countries, it's share was considerably lower in China. This was not only due to China's lower development level, but also to the country’s focus on manufacturing and export. However, as the future limitations of this growth model become more and more apparent, China is trying to shift it's economic focus to the high-tech and service sectors. Accordingly, growth rates of the service sector have been considerably higher than in industry and agriculture in the years before the spread of the coronavirus pandemic.

Inflation Rate in China decreased to -0.70 percent in February from 0.50 percent in January of 2025. This dataset provides - China Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The growth of the real gross domestic product (GDP) in Macao was forecast to continuously decrease between 2024 and 2029 by in total 7.6 percentage points. According to this forecast, in 2029, the growth will have decreased for the sixth consecutive year to 3.02 percent. As described by the International Monetary Fund, this indicator describes the annual change in the gross domestic product at constant prices. This is expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.Find more key insights for the growth of the real gross domestic product (GDP) in countries like Taiwan, China, and Hong Kong SAR China.

Key information about China Consumer Price Index CPI growth

• China Consumer Price Index (CPI) growth was measured at -0.7 % YoY in Feb 2025, compared with a rate of 0.5 % in the previous month.
• China Consumer Price Index growth data is updated monthly, available from Jan 1985 to Feb 2025, with an averaged number of 2.5 % YoY.
• The data reached an all-time high of 28.4 % YoY in Feb 1989 and a record low of -2.2 % YoY in May 1999.

Wages in China increased to 120698 CNY/Year in 2023 from 114029 CNY/Year in 2022. This dataset provides - China Average Yearly Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Consumer Price Index CPI in China increased to 103.70 points in January from 102.90 points in December of 2024. This dataset provides - China Consumer Price Index (CPI) - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Corporate Profits in China increased to 7431050 CNY Million in December from 6667480 CNY Million in November of 2024. This dataset provides - China Corporate Profits- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the average annual per capita disposable income of households in China amounted to approximately 41,300 yuan. Annual per capita income in Chinese saw a significant rise over the last decades and is still rising at a high pace. During the last ten years, per capita disposable income roughly doubled in China. Income distribution in China As an emerging economy, China faces a large number of development challenges, one of the most pressing issues being income inequality. The income gap between rural and urban areas has been stirring social unrest in China and poses a serious threat to the dogma of a “harmonious society” proclaimed by the communist party. In contrast to the disposable income of urban households, which reached around 54,200 yuan in 2024, that of rural households only amounted to around 23,100 yuan. Coinciding with the urban-rural income gap, income disparities between coastal and western regions in China have become apparent. As of 2023, households in Shanghai and Beijing displayed the highest average annual income of around 84,800 and 81,900 yuan respectively, followed by Zhejiang province with 63,800 yuan. Gansu, a province located in the West of China, had the lowest average annual per capita household income in China with merely 25,000 yuan. Income inequality in China The Gini coefficient is the most commonly used measure of income inequality. For China, the official Gini coefficient also indicates the astonishing inequality of income distribution in the country. Although the Gini coefficient has dropped from its high in 2008 at 49.1 points, it still ranged at a score of 46.5 points in 2023. The United Nations have set an index value of 40 as a warning level for serious inequality in a society.

In 2024, the average annual per capita disposable income of rural households in China was approximately 23,119 yuan, roughly 43 percent of the income of urban households. Although living standards in China’s rural areas have improved significantly over the past 20 years, the income gap between rural and urban households is still large. Income increase of China’s households From 2000 to 2020, disposable income per capita in China increased by around 700 percent. The fast-growing economy has inevitably led to the rapid income increase. Furthermore, inflation has been maintained at a lower rate in recent years compared to other countries. While the number of millionaires in China has increased, many of its population are still living in humble conditions. Consequently, the significant wealth gap between China’s rich and poor has become a social problem across the country. However, in recent years rural areas have been catching up and disposable income has been growing faster than in the cities. This development is also reflected in the Gini coefficient for China, which has decreased since 2008. Urbanization in China The urban population in China surpassed its rural population for the first time in 2011. In fact, the share of the population residing in urban areas is continuing to increase. This is not surprising considering remote, rural areas are among the poorest areas in China. Currently, poverty alleviation has been prioritized by the Chinese government. The measures that the government has taken are related to relocation and job placement. With the transformation and expansion of cities to accommodate the influx of city dwellers, neighboring rural areas are required for the development of infrastructure. Accordingly, land acquisition by the government has resulted in monetary gain by some rural households.

In 2024, approximately 67 percent of the total population in China lived in cities. The urbanization rate has increased steadily in China over the last decades. Degree of urbanization in China Urbanization is generally defined as a process of people migrating from rural to urban areas, during which towns and cities are formed and increase in size. Even though urbanization is not exclusively a modern phenomenon, industrialization and modernization did accelerate its progress. As shown in the statistic at hand, the degree of urbanization of China, the world's second-largest economy, rose from 36 percent in 2000 to around 51 percent in 2011. That year, the urban population surpassed the number of rural residents for the first time in the country's history.The urbanization rate varies greatly in different parts of China. While urbanization is lesser advanced in western or central China, in most coastal regions in eastern China more than two-thirds of the population lives already in cities. Among the ten largest Chinese cities in 2021, six were located in coastal regions in East and South China. Urbanization in international comparison Brazil and Russia, two other BRIC countries, display a much higher degree of urbanization than China. On the other hand, in India, the country with the worlds’ largest population, a mere 36.3 percent of the population lived in urban regions as of 2023. Similar to other parts of the world, the progress of urbanization in China is closely linked to modernization. From 2000 to 2024, the contribution of agriculture to the gross domestic product in China shrank from 14.7 percent to 6.8 percent. Even more evident was the decrease of workforce in agriculture.

In February 2025, the Purchasing Managers' Index (PMI) in China resided at about 50.2 percent. An indicator of the economic health of the manufacturing sector, the PMI is based on five major indicators: new orders, inventory levels, production, supplier deliveries, and the employment environment. An index value above 50 percent indicates a positive development in the industrial sector, whereas a value below 50 percent indicates a negative situation. The PMI as a major economic indicator The Purchasing Managers' Index was first introduced by the US-based Institute of Supply Management in 1948. It has become one of the most widely used and closely watched indicators of business activities worldwide. The PMI is not only an apt indicator for manufacturing growth, it also supports interest rate decisions of central bank institutions. PMI figures around the globe were dominated by the COVID-19 pandemic in 2020. In the Euro area, the PMI recovered from a considerable drop in April 2020, regaining pre-crisis level in June. In the United States, the monthly PMI indicated an even better improvement from low values in April and March. Recent PMI development in China As is shown in the graph at hand, the PMI of China as the world’s second-largest economy dropped considerably in February 2020 due to the coronavirus pandemic. In March, the index indicated a striking rebound and ranged at a level slightly above 50 index points afterwards. During 2021, the index was characterized by a slightly downward trend. In 2022, the index displayed an unstable development with two significant dips in April and December, finally concluding with a strong rebound in January 2023. The non-manufacturing PMI in China displayed a similar development.