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 3.95 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 2024, 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 29.2 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 992 billion U.S. dollars in 2024.

The Gross Domestic Product (GDP) in China expanded 1.20 percent in the first quarter of 2025 over the previous quarter. This dataset provides - China GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Historical chart and dataset showing China GDP by year from 1960 to 2023.

The graph shows China's share in global gross domestic product adjusted for purchasing-power-parity until 2024, with a forecast until 2030. In 2024, China's share was about 19.45 percent. China's global GDP share Due to the introduction of capitalist market principles in 1978, China's economic market began to show immense change and growth. China's real GDP growth ranged at 5.0 percent in 2024. China's per capita GDP is also expected to continue to grow, reaching 13,300 U.S. dollars in 2024. Comparatively, Luxembourg and Switzerland have some of the world’s largest GDP per capita with 141,100 U.S. dollars and 111,700 U.S. dollars, respectively, expected for 2025.China is the largest exporter and second largest importer of goods in the world and is also among the largest manufacturing economies. The country also ranges among the world's largest agricultural producers and consumers. It relies heavily on intensive agricultural practices and is the world's largest producer of pigs, chickens, and eggs. Livestock production has been heavily emphasized since the mid-1970s. China’s chemical industry has also seen growth with a heavy focus on fertilizers, plastics, and synthetic fibers. China's use of chemical fertilizers amounted to approximately 50.2 million metric tons in 2023. GDP composition in China Industry and construction account for less than 40 percent of China's GDP. Some of the major industries include mining and ore processing, food processing, coal, machinery, textiles and apparel, and consumer products. Almost half of China's output is dedicated to investment purposes. However, as the country tends to support gross output, innovation, technological advancement, and even quality are often lacking.

China GDP data was reported at 31,875.800 RMB bn in Mar 2025. This records a decrease from the previous number of 37,372.616 RMB bn for Dec 2024. China GDP data is updated quarterly, averaging 7,996.500 RMB bn from Mar 1992 (Median) to Mar 2025, with 133 observations. The data reached an all-time high of 37,372.616 RMB bn in Dec 2024 and a record low of 528.490 RMB bn in Mar 1992. China GDP 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's digital economy has been growing rapidly in recent years. In 2023, the economy reached a size of nearly ** trillion yuan, registering a nominal year-on-year growth of **** percent, much higher than the country's nominal GDP growth at *** percent. The digital economy accounted for around ** percent of China's GDP.

Key information about China GDP Per Capita

• China Gross Domestic Product (GDP) per Capita reached 13,306.173 USD in Dec 2024, compared with 12,959.024 USD in Dec 2023.
• China GDP Per Capita data is updated yearly, available from Dec 1957 to Dec 2024, with an average number of 388.951 USD.
• The data reached an all-time high of 13,306.173 USD in Dec 2024 and a record low of 68.243 in Dec 1957.
• CEIC converts annual GDP per Capita into USD. The National Bureau of Statistics provides GDP per Capita in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

• In the latest reports, China GDP expanded 4.550 % YoY in Mar 2023.
• China Nominal GDP reached 4,166.759 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 0.400 % in Mar 2023.
• Gross Savings Rate of China was measured at 44.277 % in Dec 2023.

Manufacturing, value added (% of GDP) in China was reported at 24.87 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Manufacturing, value added (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

GDP from Manufacturing in China decreased to 98344.50 CNY Hundred Million in the first quarter of 2025 from 405442.10 CNY Hundred Million in the fourth quarter of 2024. This dataset provides - China Gdp From Manufacturing- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the annual per capita gross domestic product (GDP) in different provinces, municipalities, and autonomous regions in China varied from approximately 200,300 yuan in Beijing municipality to roughly 47,900 yuan in Gansu province. The average national per capita GDP crossed the threshold of 10,000 U.S. dollars in 2019 and reached around 89,400 yuan in 2023. Regional economic differences in China The level of economic development varies considerably in different parts of China. Four major geographic and economic regions can be discerned in the country: The economically advanced coastal regions in the east, less developed regions in Northeast and Central China, and the developing regions in the west. This division has deep historical roots reflecting the geography of each region and their political past and present. Furthermore, regional economic development closely correlates with regional urbanization rates, which closely resembles the borders of the four main economic regions. Private income in different parts of China Breaking the average income figures further down by province, municipality, or autonomous region reveals that the average disposable income in Shanghai or Beijing is on average more than three times higher than in Tibet or Gansu province. In rural areas, average disposable income is often only between one third and one half of that in urban areas of the same region. Accordingly, consumer expenditure per capita in urban areas reaches the highest levels in Shanghai, Beijing, and the coastal regions of China.

China: Bank assets, percent of GDP: The latest value from 2021 is 214.23 percent, a decline from 218.74 percent in 2020. In comparison, the world average is 71.17 percent, based on data from 140 countries. Historically, the average for China from 1985 to 2021 is 124.06 percent. The minimum value, 65.33 percent, was reached in 1985 while the maximum of 218.74 percent was recorded in 2020.

Graph and download economic data for Balance of Payments: Total Net Current Account for China, P.R.: Mainland (CHNBCAGDPBP6PT) from 1997 to 2029 about current account, BOP, China, and Net.

GDP from Services in China decreased to 195142.30 CNY Hundred Million in the first quarter of 2025 from 765582.50 CNY Hundred Million in the fourth quarter of 2024. This dataset provides - China Gdp From Services- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the budget balance in relation to the gross domestic product (GDP) in China stood at approximately -7.34 percent. Between 1982 and 2024, the figure dropped by around 7.56 percentage points, though the decline followed an uneven course rather than a steady trajectory. The budget balance is forecast to decline by about 0.77 percentage points from 2024 to 2030, fluctuating as it trends downward.The indicator describes the general government net lending / borrowing, which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

China: Government debt as percent of GDP: The latest value from 2023 is 84.38 percent, an increase from 77.39 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for China from 1995 to 2023 is 38.71 percent. The minimum value, 20.6 percent, was reached in 1997 while the maximum of 84.38 percent was recorded in 2023.

The gross domestic product (GDP) growth rate of all major economies included except China was negative in 2020 following the COVID-19 pandemic. Growth rates were positive again in 2021, but stagnated in some countries in 2023 amid high inflation rates. What does GDP measure? GDP is the sum of all consumption, investment, government spending, and net exports in an economy. As such, different things drive the growth of each of these countries. Germany benefits from a high value of net exports, also known as its trade balance. Drawbacks of GDP growth as a metric GDP measures growth, but it does not capture welfare gains correctly in many cases. For example, carbon dioxide emissions often go hand in hand with a growing GDP. These emissions are from industry, such as coal power plants, or consumption, such as driving cars, but GDP does not measure the damage from these activities. Also, national debt is not incorporated into GDP.

In 2023, Shanghai was the city with the largest GDP in China, reaching a value added of approximately 4.7 trillion yuan. The four Chinese first-tier cites Beijing, Shanghai, Shenzhen, and Guangzhou had by far the strongest economic performance. Development of Chinese cities Rapid urbanization and economic growth have reshaped all Chinese cities since the economic opening up of China. While the first-tier cities have overall benefitted most from this development, the last two decades have seen many second-tier cities catching up. For many years already, growth rates in Qingdao, Hangzhou, Changsha, and Zhengzhou have been higher than in Shanghai or Beijing.This development was driven by lower costs in smaller cities, a specialization of their economies, and political measures to support inland cities and ease the pressure on the largest municipalities. Today, per capita GDP in cities such as Suzhou, Nanjing, and Shenzhen is already higher than in Beijing or Shanghai. Future perspectives Competition between cities will further change China’s urban landscape in the future. Medium-sized cities that can provide an attractive economic environment have the potential to grow their economy at a faster pace, attract immigration, and further increase their relative importance. Cities that are losing their competitive edge, however, like Shenyang, Dalian, and other cities in the northeastern rustbelt, are increasingly confronted by economic stagnation and demographic decline.

GDP: Guangdong: Dongguan data was reported at 1,228.215 RMB bn in 2024. This records an increase from the previous number of 1,143.813 RMB bn for 2023. GDP: Guangdong: Dongguan data is updated yearly, averaging 99.348 RMB bn from Dec 1978 (Median) to 2024, with 47 observations. The data reached an all-time high of 1,228.215 RMB bn in 2024 and a record low of 0.611 RMB bn in 1978. GDP: Guangdong: Dongguan data remains active status in CEIC and is reported by Dongguan Municipal Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AE: Gross Domestic Product: Prefecture Level City.

Key information about China Gross National Product (GNP)

• China Gross National Product (GNP) was reported at 18,617.329 USD bn in Dec 2024.
• This records an increase from the previous number of 18,131.846 USD bn for Dec 2023.
• China Gross National Product (GNP) data is updated yearly, averaging 435.702 USD bn from Dec 1957 to 2024, with 68 observations.
• The data reached an all-time high of 18,617.329 USD bn in 2024 and a record low of 43.606 USD bn in 1957.

• China Gross National Product (GNP) data remains active status in CEIC and is reported by CEIC Data.
• CEIC converts annual Gross National Product into USD. The National Bureau of Statistics provides Gross National Product in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

China: Financial institutions development, access: The latest value from 2021 is 0.461 index points, a decline from 0.486 index points in 2020. In comparison, the world average is 0.363 index points, based on data from 175 countries. Historically, the average for China from 1982 to 2021 is 0.138 index points. The minimum value, 0.028 index points, was reached in 1982 while the maximum of 0.527 index points was recorded in 2018.