China GDP Annual Growth Rate  1989-2017 | Data | Chart | Calendar

The Chinese economy advanced 6.8 percent year-on-year in the fourth quarter of 2016, compared to a 6.7 percent growth in the previous three periods and above market expectations of 6.7 percent. It was the strongest expansion since the fourth quarter 2015, supported by consumer spending, higher government expenditure and robust bank lending. Considering full 2016, the economy expanded 6.7 percent, lower than 6.9 percent in 2015. It is the weakest full-year growth since 1990 but within the government's target range of 6.5 to 7 percent, as consumption and investment growth softened. GDP Annual Growth Rate in China averaged 9.76 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)
2016-07-15 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%
2017-01-20 02:00 AM Q4 6.8% 6.7% 6.7% 6.7%
2017-04-18 02:00 AM Q1 6.8% 6.7%
2017-07-18 02:00 AM Q2 6.6%
2017-10-20 02:00 AM Q3 6.6%




China 2016 GDP Growth Weakest in 26 Years


The Chinese economy expanded 6.7 percent in 2016, lower than a 6.9 percent growth in 2015. It was the weakest full-year expansion since 1990 but within the government's target range of 6.5 to 7 percent, as investment and consumption growth has softened.

In 2016, services sector/tertiary industry rose 7.8 percent; easing from 8.3 percent in 2015 and accounting for 51.6 percent of GDP, up 1.4 percentage points. Manufacturing and construction/secondary industry grew by 6.1 percent, compared to a 6 percent a year earlier.

Final consumption expenditure accounted for 64.6 percent of GDP, lower than 66.4 percent in the preceding year. Meanwhile, capital formation contributed 42.2 percent while net exports were a 6.8 percent drag on growth.

Investment in fixed assets (excluding rural households) grew by 8.1 percent, the least since 1999, following a 10 percent last year. Investment by the state holding enterprises increased by 18.7 percent (vs 10.9 percent in 2015) while those of private investment went up by 3.2 percent (vs 10.1 percent in 2015).

Total retail sales of consumer goods rose 10.4 percent, slower than 10.7 percent in 2015. Sales in urban areas grew by 10.4 percent and those in rural by 10.9 percent. Online retail sales rose 26.2 percent versus 33.3 percent the prior year. Retail sales of physical goods increased of 25.6 percent from 31.6 percent in 2015, accounting for 12.6 percent of the total sales of consumer goods.

Total value of imports and exports in yuan terms decreased by 0.9 percent comapred to 7.0 percent decline in a year earlier, with exports dropping 2.0 percent while imports going up by 0.6 percent. 

In the December quarter, the economy expanded 6.8 percent, compared to a 6.7 percent growth in the previous three quarters while markets expected a 6.7 percent expansion. It was the strongest growth since the fourth quarter 2015, supported by strong consumer spending, higher government  expenditure and robust bank lending. 

On a quarterly basis, the GDP advanced 1.7 percent, compared to a 1.8 percent growth in the previous three months. It was the weakest expansion since the March quarter 2016.

For 2017, China is facing more headwinds from external environment, including from a new US president, who has been threatening tough trade measures against Beijing. However, the International Monetary Fund recently upgraded its growth forecast for the country’s economy for the year to 6.5 percent, 0.3 percentage points higher than their October forecast, on the back of expectations for continued government stimulus.

National Bureau of Statistics | Rida Husna | rida@tradingeconomics.com
1/20/2017 4:12:58 PM



China GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.70 1.80 2.40 1.30 percent [+]
GDP Annual Growth Rate 6.80 6.70 15.40 3.80 percent [+]
GDP 11007.72 10482.37 11007.72 47.21 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 6497.50 6108.20 6497.50 132.00 USD [+]
GDP per capita PPP 13571.70 12758.60 13571.70 1526.40 USD [+]
GDP Constant Prices 744127.00 529971.00 744127.00 5262.80 CNY HML [+]
GDP From Agriculture 63671.00 40666.00 63671.00 649.30 CNY HML [+]
GDP From Construction 49522.00 33193.00 49522.00 181.90 CNY HML [+]
GDP From Manufacturing 187836.00 177101.00 228974.00 2207.80 CNY HML [+]
GDP From Services 384221.00 279890.00 384221.00 2212.70 CNY HML [+]
GDP From Transport 33355.00 24160.00 33355.00 393.20 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 February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
6.80 6.70 15.40 3.80 1989 - 2016 percent Quarterly



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