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.

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.

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.

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

Full Year GDP Growth in China decreased to 5 percent in 2024 from 5.40 percent in 2023. This dataset includes a chart with historical data for China Full Year GDP Growth.

How the Chinese Economy Works

The Chinese economy is the second largest in the world, after the United States. It is a mixed economy, with elements of both capitalism and socialism. The government plays a significant role in the economy, but there is also a growing private sector.

Agriculture

Agriculture is a major sector of the Chinese economy, employing about 25% of the workforce. China is a major producer of rice, wheat, corn, soybeans, and cotton. The country is also a leading producer of fruits, vegetables, and livestock.

Manufacturing

Manufacturing is the largest sector of the Chinese economy, accounting for about 40% of GDP. China is a major producer of a wide range of goods, including electronics, textiles, apparel, and machinery. The country is also a major exporter of manufactured goods.

Services

Services are the third largest sector of the Chinese economy, accounting for about 45% of GDP. This sector includes a wide range of activities, such as finance, transportation, real estate, and tourism.

Government

The government plays a significant role in the Chinese economy. The government owns and operates many state-owned enterprises, which are important players in the economy. The government also regulates the economy through a variety of policies, such as tariffs, subsidies, and taxes.

Private Sector

The private sector is growing in importance in the Chinese economy. Private companies are playing an increasing role in manufacturing, services, and other sectors. The government is encouraging the growth of the private sector by reducing regulations and providing support for small businesses.

Challenges

The Chinese economy faces a number of challenges, including:

Inequality: The gap between the rich and the poor is growing in China. Environmental degradation: China is facing serious environmental problems, such as air pollution and water pollution. Political stability: The Chinese government is facing increasing challenges to its authority. Outlook

The Chinese economy is expected to continue to grow in the coming years. However, the growth is likely to slow down as the country faces the challenges mentioned above.

Conclusion

The Chinese economy is a complex and dynamic system. It is a mix of capitalism and socialism, with a significant role for the government. The economy is growing rapidly, but it also faces a number of challenges.

The 14th Five-Year Plan stated that China should accelerate green development and promote a comprehensive green transition in economic and social development. As China’s economic growth slows, green development becomes greatly significant for the high-quality development of the economy. Based on China’s provincial panel data from 2005 to 2021, this study applies fixed effects model and mediating effect model to explore the influence of the government environmental investment on green development. The results indicate that (1) the government environmental investment was conducive to green development, but such effect weakened with time. (2) The government environmental investment indirectly promoted green development through the application of green patents and economic agglomeration. (3) The promotional effect of the government environmental investment varied according to region and time. Specifically, investment exerted the most significant effect on the green development of eastern China, which became more evident after 2015. The government should promote green development by implementing long-term assessment and accountability mechanisms, expanding the scale of economic agglomeration, improving the efficiency of the application of green patents, and improving the accuracy of environmental investment.

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.

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 %.

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.

The 14th Five-Year Plan stated that China should accelerate green development and promote a comprehensive green transition in economic and social development. As China’s economic growth slows, green development becomes greatly significant for the high-quality development of the economy. Based on China’s provincial panel data from 2005 to 2021, this study applies fixed effects model and mediating effect model to explore the influence of the government environmental investment on green development. The results indicate that (1) the government environmental investment was conducive to green development, but such effect weakened with time. (2) The government environmental investment indirectly promoted green development through the application of green patents and economic agglomeration. (3) The promotional effect of the government environmental investment varied according to region and time. Specifically, investment exerted the most significant effect on the green development of eastern China, which became more evident after 2015. The government should promote green development by implementing long-term assessment and accountability mechanisms, expanding the scale of economic agglomeration, improving the efficiency of the application of green patents, and improving the accuracy of environmental investment.

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.

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

FocusEconomics' economic data is provided by official state statistical reporting agencies as well as our global network of leading banks, think tanks and consultancies. Our datasets provide not only historical data, but also Consensus Forecasts and individual forecasts from the aformentioned global network of economic analysts. This includes the latest forecasts as well as historical forecasts going back to 2010. Our global network consists of over 1000 world-renowned economic analysts from which we calculate our Consensus Forecasts. In this specific dataset you will find economic data for China GDP.

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.

Monthly and long-term China Disposable Income data: historical series and analyst forecasts curated by FocusEconomics.

The 14th Five-Year Plan stated that China should accelerate green development and promote a comprehensive green transition in economic and social development. As China’s economic growth slows, green development becomes greatly significant for the high-quality development of the economy. Based on China’s provincial panel data from 2005 to 2021, this study applies fixed effects model and mediating effect model to explore the influence of the government environmental investment on green development. The results indicate that (1) the government environmental investment was conducive to green development, but such effect weakened with time. (2) The government environmental investment indirectly promoted green development through the application of green patents and economic agglomeration. (3) The promotional effect of the government environmental investment varied according to region and time. Specifically, investment exerted the most significant effect on the green development of eastern China, which became more evident after 2015. The government should promote green development by implementing long-term assessment and accountability mechanisms, expanding the scale of economic agglomeration, improving the efficiency of the application of green patents, and improving the accuracy of environmental investment.

In 2024, the gross domestic product (GDP) of Shenzhen city in China increased by *** percent compared to the previous year. Located next to Hong Kong, Shenzhen ranked first for GDP in the Guangdong-Hong Kong-Macao Greater Bay Area. The GDP growth of Shenzhen slowed down continuously in the past years.