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.

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.

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.

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.

Graph and download economic data for National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for China (CHNGDPNQDSMEI) from Q1 1992 to Q3 2023 about China and GDP.

This study performs a meta-analysis of research that estimates the relationship between FDI and Chinese economic growth. Our sample includes 37 studies and a total of 280 estimates. We include both English- and Chinese-language studies. Our initial “raw” finding is that FDI has had a substantial, positive impact on Chinese economic growth. Furthermore, our results suggest that the effect is not inflated by endogeneity, nor impacted by publication bias. However, the positive effect is found to be smaller for more recent and better designed studies. When we adjust for preferred study and sample characteristics, we find that the estimated economic effect of FDI on Chinese economic growth is much smaller than indicated by the overall literature, and statistically insignificant. This suggests that the cause(s) of the Chinese “economic miracle” likely lie elsewhere.

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.

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.

China's digital economy has been growing rapidly in recent years. In 2023, the economy reached a size of nearly 54 trillion yuan, registering a nominal year-on-year growth of 10.3 percent, much higher than the country's nominal GDP growth at 7.4 percent. The digital economy accounted for around 43 percent of China's GDP.

In 2018, China accounted for more than half of the global textile and apparel production and around 23 percent of all textile exports worldwide. Chinese also produced around 42 percent of all chemical products, however, it accounted for only seven percent of the global chemical exports.

CN:(GDP) Gross Domestic ProductNowcast: China: Impact: Current Quarter: Property Market data was reported at 0.035 % Point in Mar 2025. This records an increase from the previous number of -0.075 % Point for Feb 2025. CN:(GDP) Gross Domestic ProductNowcast: China: Impact: Current Quarter: Property Market data is updated monthly, averaging 0.063 % Point from Oct 2024 (Median) to Mar 2025, with 6 observations. The data reached an all-time high of 0.150 % Point in Nov 2024 and a record low of -0.075 % Point in Feb 2025. CN:(GDP) Gross Domestic ProductNowcast: China: Impact: Current Quarter: Property Market data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s National Accounts – Table CN.AJ: Gross Domestic Product: Nowcast: Current Quarter. China GDP releases in January for Q4, April for Q1, July for Q2 and October for Q3. 'Next Quarter' during periods between - October release to January release refers to Q1 GDP data estimate; January release to April release refers to Q2 GDP data estimate; April release to July release refers Q3 GDP data estimate; July release to October release refers to Q4 GDP data estimate.

This data package includes the PIIE dataset to replicate the data and charts presented in The rise of US economic sanctions on China: Analysis of a new PIIE dataset by Martin Chorzempa, Mary E. Lovely, and Christine Wan, PIIE Policy Brief 24-14.

If you use the dataset, please cite as: Chorzempa, Martin, Mary E. Lovely, and Christine Wan. 2024. The rise of US economic sanctions on China: Analysis of a new PIIE dataset, PIIE Policy Brief 24-14. Washington, DC: Peterson Institute for International Economics.

An investigation into China's economy and market openness based on key economic data indicates that the economy in China today is generally more open than in 2010, but less open than in many other advanced countries. The openness in international trade reached a score of 4.4 on a scale from zero (low openness) to ten (high openness), less than the open economy average of 6.0. Other investigated measures include: financial system development, the level of allowed and supported market competition, the development of a modern innovation system, direct investment openness, and portfolio investment openness.

Graph and download economic data for Current Account Balance: Total Services for China (DISCONTINUED) (BPBLSE01CNA188S) from 1998 to 2012 about current account, BOP, China, and services.

GDP Index: Secondary Industry: Hebei data was reported at 105.800 Prev Year=100 in 2024. This records a decrease from the previous number of 106.200 Prev Year=100 for 2023. GDP Index: Secondary Industry: Hebei data is updated yearly, averaging 110.023 Prev Year=100 from Dec 1953 (Median) to 2024, with 72 observations. The data reached an all-time high of 155.700 Prev Year=100 in 1958 and a record low of 49.400 Prev Year=100 in 1961. GDP Index: Secondary Industry: Hebei data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AB: Gross Domestic Product: Index: by Province.

Graph and download economic data for Current Account Debit: Trade: Total Imports of Goods for China (DISCONTINUED) (BPDBTD01CNQ637S) from Q1 1998 to Q4 2012 about debit, current account, BOP, imports, China, trade, and goods.

An investigation into China's economy and market openness based on key economic data indicates that the economy in China today is generally more open than in 2010, but less open than in many other advanced countries. An evaluation of the openness and modernity of China's innovation system resulted in a score of 2.5 on a scale from zero (low innovation) to ten (high innovation), less than the open economy average of 4.0. Other investigated measures include: financial system development, the level of allowed and supported market competition, trade openness, direct investment openness, and portfolio investment openness.

China Other Food: Current Asset data was reported at 188.753 RMB bn in Oct 2015. This records an increase from the previous number of 186.320 RMB bn for Sep 2015. China Other Food: Current Asset data is updated monthly, averaging 100.521 RMB bn from Dec 1998 (Median) to Oct 2015, with 102 observations. The data reached an all-time high of 188.753 RMB bn in Oct 2015 and a record low of 16.850 RMB bn in Dec 1999. China Other Food: Current Asset data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Industrial Sector – Table CN.BHB: Food: Other Food.

China IE: Current Asset: YoY: Instrument & Meter data was reported at 5.500 % in Mar 2025. This records an increase from the previous number of 5.400 % for Feb 2025. China IE: Current Asset: YoY: Instrument & Meter data is updated monthly, averaging 11.361 % from Jan 2012 (Median) to Mar 2025, with 159 observations. The data reached an all-time high of 20.200 % in Mar 2012 and a record low of 3.900 % in Nov 2024. China IE: Current Asset: YoY: Instrument & Meter data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Industrial Sector – Table CN.BIL: Instrument and Meter.