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 5.20 percent in the second quarter of 2025 over the same quarter of the previous year. This dataset provides - China GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the gross domestic product (GDP) of China amounted to around 18.7 trillion U.S. dollars. In comparison to the GDP of the other BRIC countries India, Russia and Brazil, China came first that year and second in the world GDP ranking. The stagnation of China's GDP in U.S. dollar terms in 2022 and 2023 was mainly due to the appreciation of the U.S. dollar. China's real GDP growth was 3.1 percent in 2022 and 5.4 percent in 2023. In 2024, per capita GDP in China reached around 13,300 U.S. dollars. Economic performance in China Gross domestic product (GDP) is a primary economic indicator. It measures the total value of all goods and services produced in an economy over a certain time period. China's economy used to grow quickly in the past, but the growth rate of China’s real GDP gradually slowed down in recent years, and year-on-year GDP growth is forecasted to range at only around four percent in the years after 2024. Since 2010, China has been the world’s second-largest economy, surpassing Japan.China’s emergence in the world’s economy has a lot to do with its status as the ‘world’s factory’. Since 2013, China is the largest export country in the world. Some argue that it is partly due to the undervalued Chinese currency. The Big Mac Index, a simplified and informal way to measure the purchasing power parity between different currencies, indicates that the Chinese currency yuan was roughly undervalued by 38 percent in 2024. GDP development Although the impressive economic development in China has led millions of people out of poverty, China is still not in the league of industrialized countries on the per capita basis. To name one example, the U.S. per capita economic output was more than six times as large as in China in 2024. Meanwhile, the Chinese society faces increased income disparities. The Gini coefficient of China, a widely used indicator of economic inequality, has been larger than 0.45 over the last decade, whereas 0.40 is the warning level for social unrest.

The Gross Domestic Product (GDP) in China was worth 18743.80 billion US dollars in 2024, according to official data from the World Bank. The GDP value of China represents 17.65 percent of the world economy. This dataset provides - China GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In the second quarter of 2025, the growth of the real gross domestic product (GDP) in China ranged at *** percent compared to the same quarter of the previous year. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. GDP growth in China In 2024, China ranged second among countries with the largest gross domestic product worldwide. Since the introduction of economic reforms in 1978, the country has experienced rapid social and economic development. In 2013, it became the world’s largest trading nation, overtaking the United States. However, per capita GDP in China was still much lower than that of industrialized countries. Until 2011, the annual growth rate of China’s GDP had constantly been above nine percent. However, economic growth has cooled down since and is projected to further slow down gradually in the future. Rising domestic wages and the competitive edge of other Asian and African countries are seen as main reasons for the stuttering in China’s economic engine. One strategy of the Chinese government to overcome this transition is a gradual shift of economic focus from industrial production to services. Challenges to GDP growth Another major challenge lies in the massive environmental pollution that China’s reckless economic growth has caused over the past decades. China’s development has been powered mostly by coal consumption, which resulted in high air pollution. To counteract industrial pollution, further investments in waste management and clean technologies are necessary. In 2017, about **** percent of GDP was spent on pollution control. Surging environmental costs aside, environmental issues could also be a key to industrial transition as China placed major investments in renewable energy and clean tech projects. The consumption of green energy skyrocketed from **** exajoules in 2005 to **** million in 2022.

The Gross Domestic Product (GDP) in China expanded 1.10 percent in the second 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.

As novel coronavirus COVID-19 spreads from China to over ** countries across the world, global economy could suffer a slowdown with no growth in the worst scenario. According to the projection, China's GDP growth would drop to *** percent when it turns into a global pandemic, which would be *** percent point less than the baseline of no virus outbreak.

China A50 index is expected to maintain its upward momentum in the near term. The index could continue to benefit from the country's strong economic recovery, supportive government policies, and the weakness of the US dollar. However, investors should be aware of potential risks, including the ongoing trade tensions between China and the US, the COVID-19 pandemic, and the possibility of a slowdown in the Chinese economy.

Key information about China Retail Sales Growth

• China Retail Sales grew 12.7 % YoY in May 2023, compared with a 18.4 % increase in the previous month.
• China Retail Sales Growth YoY data is updated monthly, available from Jan 1994 to May 2023, with an average growth rate of 11.9 %.
• The data reached an all-time high of 41.0 % in Nov 1994 and a record low of -15.8 % in Mar 2020.
• In the latest reports, Car Sales of China recorded 2,381,614.0 units in May 2023, representing a growth of 27.9 %.

Since the 2011 financial sector assessment program (FSAP), China’s economic growth has remained strong, although a necessary economic transformation is underway. China now has the world’s largest gross domestic product (GDP) in purchasing power parity, and poverty rates have fallen. However, medium-term growth prospects have moderated. The economic transformation requires a fundamental change in the role of the financial system. Although longer-term objectives are clear, policymakers continue to face challenges in balancing short-term growth concerns with long-term financial stability and sustainability. The slow pace of state-owned enterprise (SOEs) reform and limited exit of weak firms have resulted in efficiency losses and reinforced the perception of implicit guarantees. Contingent fiscal liabilities have also grown rapidly. Addressing these tensions is challenging in the context of the strong presence of the state in the financial sector. Maintaining financial stability will also require that remaining gaps in regulatory frameworks be addressed. Further enhancements to crisis management frameworks are needed to allow financial institutions to fail in a manner that minimizes the impact on financial stability and public resources.

The value of loans in China increased 6.90 percent in July of 2025 over the same month in the previous year. This dataset provides - China Outstanding Loan Growth - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The IT Services industry in China has performed well over the past five years, due to the application of new technologies, like cloud computing, big data, AI and the Internet of Things. The growth in IT investment and of China's information sector has boosted industry demand. Industry revenue is expected to grow at an annualized 8.2% over the five years through 2025, to total $448.2 billion. This trend includes anticipated growth of 3.0% in the current year.Industry revenue increased slower in 2022, mainly because the aggravated COVID-19 epidemic in the year has led to delays in project delivery. Reduced budget from government customers also resulted in weaker industry demand, due to the large expenditures on the protection and control measures.Although the IT services industry in China is still relatively new, it has been expanding quickly. The Chinses Government attaches great importance on the development of information sector, which stimulated the demand for IT services. Strong government supports on digital economy and the construction of digital China have created a favorable condition for the development of the industry and will increase the demand for IT services.The industry's outsourcing and offshoring service segment experienced the stable growth over the past five years, boosted by government support. Industry exports will increase at an average rate of 4.5% in the five years to 2025. Exports as a share of industry revenue is expected to total 4.1% in 2025.Industry revenue is forecast to grow at an annualized 4.0% over the five years through 2030, to total $546.5 billion. The recovery of Chinese economy, the improvement of IT equipment and software technologies and the accelerated digital transformation in both government and private sectors are anticipated to remain the most important drivers for the industry's development. New technologies, like cloud computing, big data, AI and the Internet of Things, will also continue to motivate industry development.The industry is highly fragmented and has a low concentration level. The top four participants will jointly account for 2.1% of industry revenue in 2025. Industry concentration level is forecast to increase over the next five years, as large IT services firms acquire smaller local providers to gain market share in the growing small- and medium-sized business market segment.

Comprehensive index of the interprovincial digital economy in China.

This data package includes the underlying data to replicate the charts presented in Lessons from China's fiscal policy during the COVID-19 pandemic, PIIE Working Paper 24-7.

If you use the data, please cite as: Huang, Tianlei. 2024. Lessons from China's fiscal policy during the COVID-19 pandemic. PIIE Working Paper 24-7. Washington: Peterson Institute for International Economics.

Industrial Production in China increased 5.70 percent in July of 2025 over the same month in the previous year. This dataset provides - China Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in China decreased to 0 percent in July from 0.10 percent in June of 2025. This dataset provides - China Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The digital economy has the characteristics of resource conservation, which can solve China’s high carbon emissions problems. The digital economy can quickly integrate with the real economy, forming an integrated economy. However, it is still unclear whether an integrated economy can effectively reduce carbon emissions and achieve China’s ‘dual carbon goals’. Therefore, this study takes 30 provinces in China as the research object, constructs the integration economy index system through the statistical data from 2011-2021, and explores the spatial effect of the impact of the integration economy on carbon emissions by using principal component analysis, coupled coordination model and spatial econometric model. The research results are as follows. (1) From 2011 to 2021, the comprehensive economy showed a trend of increasing yearly (from 0.667 to 0.828), and carbon emissions showed a slow decrease (from 0.026 to 0.017). (2) Due to the infiltration of China’s economic development from the eastern to the western, the spatial distribution of the integrated economy shows a decreasing trend from east to west. The spatial distribution of carbon emissions may be related to China’s industrial layout of heavy industry in the northern, and light industry in the southern, showing a trend of low in the south and high in the north. (3) The integrated economy can significantly reduce carbon emissions (the coefficients of influence, -0.146), and the reduction effect will be more obvious if spatial spillover effects are taken into account (-0.305). (4) The eastern coast, the middle reaches of the Yangtze River, and the middle reaches of the Yellow River economic zones all increase carbon emissions at a certain level of significance (0.065, 0.148, and 3.890). The Northeast, South Coastal and Southwest economic zones significantly reduce carbon emissions (-0.220, -0.092, and -0.308). The results of the Northern Coast and Northwest are not significant (-0.022 and 0.095). (5) China should tailor regional economic development policies, such as strengthening investment in digital infrastructure in the Northwest Economic Zone and fully leveraging the spatial spillover effects of integrated economy in the Northeast, Southern Coastal, and Southwest Economic Zones to reduce carbon emissions.

Prior to the outbreak of the coronavirus, COVID-19, in Wuhan, Hubei province, GlobalData had been predicting a steady slowdown in the pace of growth in construction in China, owing to the expected continuation of government efforts by to shift the economy away from one dependent on investment. However, the drastic measures taken since January to contain the spread of the virus have brought economic activity to a halt across much of the country, and as a result GlobalData has revised down its construction output growth forecast for 2020 Read More

Gold prices dropped for the second day due to easing market concerns after Trump's remarks on China and the Fed, though gold remains over 25% up this year.

In 2024, the employment rate in China decreased to around 62.4 percent, from 62.8 percent in the previous year. China is the world’s most populous country and its rapid economic development over the past decades has profited greatly from its large labor market. While the overall working conditions for the Chinese people are improving, the actual size of the working-age population in China has been shrinking steadily in recent years. This is mainly due to a low birth rate in the country. Economic slowdown – impact on labor market After decades of rapid development, the world’s second largest economy now seems to have difficulties to boost its economy further. The GDP growth rate indicated a declining trend over the last decade and the number of employed people decreased for the first time since decades in 2015. Under the influence of the global economic downturn, the coronavirus pandemic, and the US-China tensions, many Chinese enterprises are having tough times, which leads to a recession in China’s labor market. Chances for better employment situation The long-lasting Sino-U.S. trade war has caused China great loss on its international trade sector, which has been driving China’s economic growth for decades. However, there is also a lot China could improve. First, the potential of domestic demands could be further developed and satisfied with high-quality products. Second, it’s a good timing to eliminate backward industries with low value added, and the high-tech and environment-friendly industries should be further promoted. In addition, China’s market could be more open to services, especially in the financial sector and IT services, to attract more foreign investors. Highly skilled talents should be better valued in the labor market. Efficient vocational education and further education could also help change the structure of China’s labor market.