China GDP Annual Growth Rate 1989-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in China expanded 7.30 percent in the third quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in China averaged 9.10 Percent from 1989 until 2014, reaching an all time high of 14.20 Percent in the fourth quarter of 1992 and a record low of 3.80 Percent in the fourth quarter of 1990. GDP Annual Growth Rate in China is reported by the National Bureau of Statistics of China.

   
 
 

China GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
7.30 7.50 14.20 3.80 1989 - 2014 Percent Quarterly
In China, Gross Domestic Product is divided by three sectors: Primary, Secondary and Tertiary. The Primary Industry includes Farming, Forestry, Animal Husbandry, and Fishery and accounts for around 9 percent of GDP. The Secondary sector, which includes Industry (40 percent of GDP) and Construction (9 percent of GDP) is the most important. The Tertiary sector accounts for the remaining 44 percent of total output and consist of Wholesale and Retail Trades; Transport, Storage, and Post; Financial Intermediation; Real Estate; Hotel and Catering Services and Others. This page provides - China GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - China GDP Annual Growth Rate - was last refreshed on Saturday, November 1, 2014.


China GDP Growth at Five-Year Low


In the third quarter of 2014, China's gross domestic product expanded 7.3 percent year-on-year, slumping to a five-year low. The slowdown was driven by lower property investment, dwindling credit growth and weakening industrial production.

In September, fixed asset investment increased 16.3 percent year-on-year, slowing from a 16.5 percent rise in August. Industrial production advanced 8.0 percent, from 6.9 percent in the previous month. Retail sales rose 11.6 percent compared with 11.9 percent in August. Also, in September inflation rate slowed for the second straight month to an annual 1.6 percent, down from 2.0 percent in the previous month and reaching the lowest level in nearly five years.
 
On the other hand, exports grew a better-than-expected 15.3 percent year-on-year in September, up from a 9.4 percent in August. Yet, there are suspicions again that the numbers are inflated due to over invoicing as Chinese bring money into the mainland from Hong Kong to take advantage of an appreciating renminbi. 
 
Quarter-on-quarter, the GDP expanded 1.9 percent, compared with a 2 percent from April to June. Year-to-date the economy grew 7.4 percent.
 
At the beginning of October, The World Bank has cut China's growth forecast for the next three years and projected the GDP would slow down in 2014 to 7.4 percent from a previous estimate of 7.6 percent. Yet, Chinese officials have pledged the government would tolerate growth slightly lower than the targeted 7.5 percent for 2014.
 
Premier Li Keqiang recently said China will launch major investment projects in information networks, environmental protection, infrastructure and water conservancy. He also pledged that "Fiscal and monetary policies would be kept flexible and appropriate targeted adjustments made when needed to support the real economy". So far, in September, China's central bank relaxed lending rules for home buyers and allowed banks to offer a maximum 30 percent discount to first time home buyers. The bank also injected CNY 500 billion (USD 81 billion) into five largest banks via a three-month standing lending facility operation, a move aiming to support credit and growth.

NBS l Rida l rida@tradingeconomics.com
10/21/2014 7:57:59 AM


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Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-20 02:00 AM China
GDP Growth Rate YoY
Q4 2013 7.7% 7.8% 7.6% 7.5%
2014-04-16 03:00 AM China
GDP Growth Rate YoY
Q1 2014 7.4% 7.7% 7.3% 7.5%
2014-07-16 03:00 AM China
GDP Growth Rate YoY
Q2 2014 7.5% 7.4% 7.4% 7.4%
2014-10-21 03:00 AM China
GDP Growth Rate YoY
Q3 2014 7.3% 7.5% 7.2% 7.12%


China GDP Last Previous Highest Lowest Unit
GDP 9240.27 8230.00 9240.27 46.50 USD Billion [+]
GDP Growth Rate 1.90 2.00 2.50 1.40 Percent [+]
GDP Annual Growth Rate 7.30 7.50 14.20 3.80 Percent [+]
Gross National Product 566130.20 516282.10 566130.20 679.00 CNY HML [+]
GDP per capita 3583.38 3344.54 3583.38 85.52 USD [+]
Gross Fixed Capital Formation 269075.40 241756.80 269075.40 80.70 CNY HML [+]
GDP per capita PPP 11524.57 10756.46 11524.57 1554.01 USD [+]