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 5.4 percent in 2023 and 5.0 percent in 2024. 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.

Graph and download economic data for OECD based Recession Indicators for China from the Peak through the Period preceding the Trough (DISCONTINUED) (CHNRECP) from Jan 1978 to Sep 2022 about peak, trough, recession indicators, and China.

We analyze China’s interindustry connections and show that China’s housing activity has become increasingly important to its GDP growth. Our results suggest that a 10 percent decline in final demand for real estate and housing-related construction would lead to a decline in total output of 2.2 percent, an effect more than two times larger than it would have been 10 years ago.

The Gross Domestic Product (GDP) in China expanded 4.80 percent in the third 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.

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 4.8 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.

In the third 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 Global Financial Crisis (2007-2008), which began due to the collapse of the U.S. housing market, had a negative effect in many regions across the globe. The global recession which followed the crisis in 2008 and 2009 showed how interdependent and synchronized many of the world's economies had become, with the largest advanced economies showing very similar patterns of negative GDP growth during the crisis. Among the largest emerging economies (commonly referred to as the 'E7'), however, a different pattern emerged, with some countries avoiding a recession altogether. Some commentators have particularly pointed to 2008-2009 as the moment in which China emerged on the world stage as an economic superpower and a key driver of global economic growth. The Great Recession in the developing world While some countries, such as Russia, Mexico, and Turkey, experienced severe recessions due to their connections to the United States and Europe, others such as China, India, and Indonesia managed to record significant economic growth during the period. This can be partly explained by the decoupling from western financial systems which these countries undertook following the Asian financial crises of 1997, making many Asian nations more wary of opening their countries to 'hot money' from other countries. Other likely explanations of this trend are that these countries have large domestic economies which are not entirely reliant on the advanced economies, that their export sectors produce goods which are inelastic (meaning they are still bought during recessions), and that the Chinese economic stimulus worth almost 600 billion U.S. dollars in 2008/2009 increased growth in the region.

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.

This dataset contains the full data and Stata do-files used to reproduce all empirical results from the paper “Export slowdown and increasing land supply: Local government’s responses to export shocks in China” by Qiuyi Wang, Shuping Wu, Jing Wu

Context

This Dataset presents New Zealand’s daily export trade with China from 27 January 2020. It compares 2020 values with those from previous years, to show the potential impacts of COVID-19 since its outbreak in late 2019.

We advise caution in making decisions based on this experimental data. Please send any comments to overseastrade@stats.govt.nz.

https://www.stats.govt.nz/experimental/provisional-indications-effects-of-coronavirus-outbreak-on-new-zealand-trade-with-china

Content

Imports from China The cumulative total value of imports from China alone in the past four weeks and one day to 29 February 2020 was about $775 million . This is about $169 million less than for the same period in 2019 .

Daily trade for 1 February–29 February 2020 (published 10 March 2020) Imports from China (experimental, published 10 March 2020) CSV files include imports from China, including key exports of meat, seafood, dairy, and forestry products. The data is provisional and should be regarded as an early, indicative estimate of intentions to export only, subject to revision. These are not official statistics, but an effort to provide the latest available trade data at a time of heightened interest in trade with China. The data compares the four weeks and a day up to 29 February 2020 against previous years. This allows for an estimate to be made of what may have happened to exports, if they had followed typical patterns in the past four weeks.

Acknowledgements

https://www.stats.govt.nz/experimental/provisional-indications-effects-of-coronavirus-outbreak-on-new-zealand-trade-with-china Photo by Andy Li on Unsplash

Inspiration

The Global trade impact of the Coronavirus (COVID-19) Epidemic . “The spread of the new coronavirus is a public health crisis that could pose a serious risk to the macro economy through the halt in production activities, interruptions of people's movement and cut-off of supply chains” - Japanese Finance Minister Taro Aso. G20 gathering in Riyadh, Saudi Arabia, February 24, 2020. " Besides its worrying effects on human life, the novel strain of coronavirus (COVID-19) has the potential to significantly slowdown not only the Chinese economy but also the global economy. China has become the central manufacturing hub of many global business operations. Any disruption of China’s output is expected to have repercussions elsewhere through regional and global value chains. https://unctad.org/en/PublicationsLibrary/ditcinf2020d1.pdf

The statistic shows the distribution of the workforce across economic sectors in China from 2014 to 2024. In 2024, around 22.2 percent of the workforce were employed in the agricultural sector, 29 percent in the industrial sector and 48.8 percent in the service sector. In 2022, the share of agriculture had increased for the first time in more than two decades, which highlights the difficult situation of the labor market due to the pandemic and economic downturn at the end of the year. Distribution of the workforce in China In 2012, China became the largest exporting country worldwide with an export value of about two trillion U.S. dollars. China’s economic system is largely based on growth and export, with the manufacturing sector being a crucial contributor to the country’s export competitiveness. Economic development was accompanied by a steady rise of labor costs, as well as a significant slowdown in labor force growth. These changes present a serious threat to the era of China as the world’s factory. The share of workforce in agriculture also steadily decreased in China until 2021, while the agricultural gross production value displayed continuous growth, amounting to approximately 7.8 trillion yuan in 2021. Development of the service sector Since 2011, the largest share of China’s labor force has been employed in the service sector. However, compared with developed countries, such as Japan or the United States, where 73 and 79 percent of the work force were active in services in 2023 respectively, the proportion of people working in the tertiary sector in China has been relatively low. The Chinese government aims to continue economic reform by moving from an emphasis on investment to consumption, among other measures. This might lead to a stronger service economy. Meanwhile, the size of the urban middle class in China is growing steadily. A growing number of affluent middle class consumers could promote consumption and help China move towards a balanced economy.

Aston Martin forecasts deeper losses due to US tariff quotas, weakness in key markets like China and North America, and broader economic headwinds, causing significant stock decline.

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

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The automotive ADAS market in China market share is expected to increase by USD 2.19 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 14.05%.

This automotive ADAS market in China research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the automotive ADAS market in China's market segmentation by technology (BSD, PAS, DMS, FCW, and others) and application (passenger cars and commercial vehicles). The automotive ADAS market in China report also offers information on several market vendors, including Aptiv Plc, Continental AG, DENSO Corp., Hyundai Mobis Co. Ltd., Intel Corp., Magna International Inc., Robert Bosch GmbH, Valeo SA, Veoneer Inc., and ZF Friedrichshafen AG among others.

What will the Automotive ADAS Market Size In China be During the Forecast Period?

Download the Free Report Sample to Unlock the Automotive ADAS Market in China Size for the Forecast Period and Other Important Statistics

Automotive ADAS Market In China : Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growth of the automotive industry in China is notably driving the automotive ADAS market in China growth, although factors such as the ongoing slowdown of the economy in China may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive ADAS market in the China industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive ADAS Market In China Driver

The growth of the automotive industry is a major driver fueling the automotive ADAS market growth in China. Since 2008, the automotive industry in China has been the largest in the world. The growth of the automotive industry in China is one of the primary factors driving the automotive ADAS market in China. The increase in economic activities in the country has led to the growth in the per capita income of the country. Economic development has led to the growth of major cities and rapid urbanization. According to The World Bank, the urban population in China accounted for 45% of the total population of the country in 2007, and it grew to more than 60% of the total population in 2019. The rising urban population has led to high demand for automobiles from individual customers for convenient commuting, as well as from freight operators for fulfilling the ever-growing demand for transportation. The inability of railways to provide last-mile connectivity and the growing popularity of e-commerce sites have led to a rise in sales of heavy commercial vehicles for logistics in China. As automotive ADAS technologies play a vital role in vehicular safety, the growth of the automotive industry in China is a key factor driving the automotive ADAS market in China.

Key Automotive ADAS Market In China Trend

The adoption of V2X technology to enhance ADAS performance is a major trend influencing the automotive ADAS market growth in China. During the forecast period, the automotive market is expected to witness a shift from the fourth-generation (4G) long-term evolution (LTE) to fifth-generation (5G) technology, which could increase the data speed by 33 times faster than 4G LTE, and the latency could drop to about one-tenth of the current speed. This will lead to the faster development of semi-autonomous and autonomous vehicle technologies. The 5G technology will also enable the efficient operation of advanced systems such as V2X communications, which includes vehicle-to-vehicle, vehicle-to-infrastructure, and vehicle-to-pedestrian communication. Additionally, the prominence of 5G technology will boost the adoption of cellular V2X during the forecast period. For instance, in March 2019, the 5G Automotive Association announced its plan to commercially deploy cellular-V2X communication technology in China by the end of 2020. We expect the adoption of V2X to play a crucial role in enhancing the safety of modern vehicles, which will drive the growth of the market in focus.

Key Automotive ADAS Market In China Challenge

The ongoing slowdown of the economy in China is a major hindrance to the automotive ADAS market growth in China. The high economic growth in the past made China the leading market for automotive production and sales. Thus, China accounted for the majority of the incremental demand for automotive components such as ADAS. However, the ongoing slowdown and the risk of a further slowdown of the economy in China can severely impact the adoption of automobiles and their components, such as ADAS, during the forecast period. In the April to June quarter of 2019, the

China’s construction industry is expected to expand at a relatively slower pace over the forecast period (2019-2023), as the government steadily shifts away from a policy of driving economic growth by investing huge sums in infrastructure developments. The heady days of double-digit growth in China’s construction industry have long gone, with the authorities reining in excessive debt-driven investment in infrastructure and urban development. Nevertheless, in view of the recent slowdown in construction, the authorities can still revert to infrastructure investment to prop up the industry and support the economy when necessary. Read More

These files contain the building material stock database from 2000 to 2020.

Due to file size limitations on the platform, we are unable to upload the complete high-resolution 30-meter dataset. However, interested researchers may contact the authors Chaoqun Zhang (cqzhang@mail.bnu.edu.cn) and Ziyue Chen (zychen@bnu.edu.cn) to obtain the full dataset.

Data information: The compressed files include building material stock data at 1-kilometer resolution from 2000 to 2020, aggregated from the 30-meter data, with each 1-kilometer grid cell representing the total stock within that area. Additionally, we have uploaded detailed examples of Beijing and Shanghai at 30-meter resolution, as presented in the manuscript.

For most of the past two decades, China had the highest GDP growth of any of the BRICS countries, although it was overtaken by India in the mid-2010s, and India is predicted to have the highest growth in the 2020s. All five countries saw their GDP growth fall during the global financial crisis in 2008, and again during the coronavirus pandemic in 2020; China was the only economy that continued to grow during both crises, although India's economy also grew during the Great Recession. In 2014, Brazil experienced its own recession due to a combination of economic and political instability, while Russia also went into recession due to the drop in oil prices and the economic sanctions imposed following its annexation of Crimea.

Oil prices have hit a four-year low as the US-China trade war escalates, impacting global markets and leading to significant declines in crude oil and base metal prices.

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The electrical discharge machine market share is expected to increase by USD 1.53 billion from 2020 to 2025, at a CAGR of 7.65%.

This electrical discharge machine market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (machine shop, aerospace and defense, medical, automotive, and others) and geography (APAC, North America, Europe, South America, and MEA). The electrical discharge machine market report also offers information on several market vendors, including Beaumont Machine, Belmont Equipment and Technologies, Ching Hung Machinery and Electric Industrial Co. Ltd., Georg Fischer Ltd., Makino Milling Machine Co. Ltd., Mitsubishi Electric Corp., Novick Digital Equipment Co. Ltd., ONA Electroerosion SA, Sodick Inc., and Yihawjet Enterprises Co. Ltd. among others.

What will the Electrical Discharge Machine Market Size be During the Forecast Period?

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Electrical Discharge Machine Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rise in automation: industrial revolution 4.0 is notably driving the electrical discharge machine market growth, although factors such as slowdown in the Chinese economy may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electrical discharge machine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Driver for the Electrical Discharge Machine Market

The increasing adoption of automated technologies is one of the key drivers for the electrical discharge machine market share growth. Companies are increasingly resorting to automation to ensure quality standards, which is creating the demand for electrical discharge machines. Many companies implement process automation to enhance their productivity and increase profit margins. Considering these factors, companies benefit due to the enhancement in overall efficiency that automation brings. Automation ensures that a company can save on labor costs and increase efficiency.

Key Challenge for the Electrical Discharge Machine Market

The slowdown in the Chinese economy is one of the key challenges for the electrical discharge machine market vendors. The recent slowdown that the Chinese economy will have an adverse effect on the global electrical discharge machine market. The slowdown is mainly attributed to the sluggish performance of the country's real estate sector with huge manufacturing overcapacity. The adversely affected manufacturing sector's problem is that of excess production capacity. Although the country is recovering from the impact of COVID-19 on the manufacturing industry, the slowdown in the growth of the sector in China will have an adverse impact on the global electrical discharge machine market.

This electrical discharge machine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Electrical Discharge Machine Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

Beaumont Machine
Belmont Equipment and Technologies
Ching Hung Machinery and Electric Industrial Co. Ltd.
Georg Fischer Ltd.
Makino Milling Machine Co. Ltd.
Mitsubishi Electric Corp.
Novick Digital Equipment Co. Ltd.
ONA Electroerosion SA
Sodick Inc.
Yihawjet Enterprises Co. Ltd.

This statistical study of the electrical discharge machine market encompasses successful business strategies deployed by the key vendors. The electrical discharge machine market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The electrical discharge machine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Electrical Discharge Machine Market?

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Supplementary material for Michael Beckley, "The Peril of Peaking Powers: Economic Slowdowns and Implications for China’s Next Decade," International Security 48, no. 1 (Summer 2023): 7–46.