China GDP Annual Growth Rate  1989-2016 | Data | Chart | Calendar

The Chinese economy expanded an annual 6.7 percent in the September quarter of 2016, the same pace as in the previous two quarters.The figure was in line with market expectations, supported by an increase in government spending, fixed asset investment and retail sales while industrial output eased. For 2016, the Chinese government is targeting the economy to grow between 6.5 to 7.0 percent. A year earlier, the economy expanded by 6.9 percent, the weakest since 1990. On a quarterly basis, the GDP advanced 1.8 percent, the same as in the June quarter and matching consensus. GDP Annual Growth Rate in China averaged 9.79 percent from 1989 until 2016, reaching an all time high of 15.40 percent in the first quarter of 1993 and a record low of 3.80 percent in the fourth quarter of 1990.

China GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-15 02:00 AM Q1 6.7% 6.8% 6.7% 6.8%
2016-07-15 02:00 AM Q2 6.7% 6.7% 6.6% 6.6%
2016-10-19 02:00 AM Q3 6.7% 6.7% 6.7% 6.6%
2017-01-19 02:00 AM Q4 6.7%
2017-04-14 02:00 AM Q1
2017-07-14 02:00 AM Q2




China GDP Growth Matches Estimates in Q3


The Chinese economy expanded an annual 6.7 percent in the September quarter of 2016, the same pace as in the previous two quarters.The figure was in line with market expectations, supported by an increase in government spending, fixed asset investment and retail sales while industrial output eased.

From January to September 2016, government spending rose 12.5 percent compared to the same period a year earlier while revenues increased by 5.9 percent.

Fixed-asset investment grew by 8.2 percent year-on-year, compared to a 8.1 percent rise in the first eight months of 2016 and in line with estimates. While investment by state firms jumped by 21.1 percent year-on-year; those by private firms rose 2.5 percent, accelerating from a record low of 2.1 percent in January to August.

In September, retail sales  rose 10.7 percent year-on-year, compared to a 10.6 percent increase in August. It was the fastest growth since December 2015 and slightly above consensus of a 10.6 percent rise. Sales grew for all categories: building materials (+14.2 percent), automobiles (+13.1 percent), personal care (+12.5 percent), office supplies (+10.4 percent), furniture (+8.7 percent), home appliances (+8.6 percent), cosmetics (+7.7 percent), garments (+6.7 percent), telecoms (+5.1 percent), jewelry (+5.0 percent) and oil. oil products (+2.9 percent).

Industrial production went up 6.1 percent from a year earlier, slowing from a 6.3 percent growth in August and missing market expectations of a 6.4 percent rise. Output rose the most in electricity, gas and water production (+7.3 percent), followed by manufacturing (+6.5 percent) and mining (+0.1 percent). 

Figures released earlier showed exports tumbled 10.0 percent year-on-year to USD184.51 billion in September 2016, compared to a 2.8 percent drop in the prior month while market estimated a 3.0 percent drop. In the last twelve months exports rose only in March (+10.7 percent). Imports unexpectedly dropped by 1.9 percent to USD142.52 billion, following a 1.5 percent rise in August and missing expectations of a 1.0 percent growth. 

Considering the first nine months of 2016, the services sector expanded 7.6 percent while the industry sector grew at a slower  6.1 percent.

From January to September 2016, final consumption accounted for 71.0 percent of Chinese economy. Meanwhile, investment contributed 36.8 percent of growth and net exports were a 7.8 percent drag on growth.

For 2016, the Chinese government is targeting the economy to grow between 6.5 to 7.0 percent. A year earlier, the economy expanded by 6.9 percent, the weakest since 1990.

On a quarterly basis, the GDP advanced 1.8 percent, compared to an upwardly revised 1.9 percent expansion in the June quarter and matching market consensus.

National Bureau of Statistics l Rida Husna | rida@tradingeconomics.com
10/19/2016 5:50:32 AM



China GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.80 1.90 2.40 1.20 percent [+]
GDP Annual Growth Rate 6.70 6.70 15.40 3.80 percent [+]
GDP 10866.44 10351.11 10866.44 46.69 USD Billion [+]
Gross National Product 673837.10 634367.30 673837.10 679.00 CNY HML [+]
Gross Fixed Capital Formation 292396.50 283017.60 292396.50 80.70 CNY HML [+]
GDP per capita 6416.18 6032.62 6416.18 130.14 USD [+]
GDP per capita PPP 13400.27 12599.19 13400.27 1516.21 USD [+]
GDP Constant Prices 529971.00 340636.80 685505.80 5262.80 CNY HML [+]
GDP From Agriculture 40666.00 22096.70 60870.50 649.30 CNY HML [+]
GDP From Construction 33193.00 19878.00 46456.00 181.90 CNY HML [+]
GDP From Manufacturing 177101.00 114943.00 228974.00 2207.80 CNY HML [+]
GDP From Services 279890.00 184289.60 344075.00 2212.70 CNY HML [+]
GDP From Transport 24160.00 15537.00 30364.00 393.20 CNY HML [+]



China GDP Annual Growth Rate Notes

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. China GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
6.70 6.70 15.40 3.80 1989 - 2016 percent Quarterly



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