The Chinese economy expanded 4.6% yoy in Q3 of 2024, compared with market forecasts of 4.5% and a 4.7% rise in Q2. It marked the slowest annual growth rate since Q1 2023, amid persistent property weakness, shaky domestic demand, deflation risks, and trade frictions with the West. The latest figures came as Beijing had intensified stimulus measures to boost economic recovery and rebuild confidence. In September alone, there were some positive signs: industrial output and retail sales both saw their largest increases in four months, and the urban jobless rate fell to a three-month low of 5.1%. On the trade front, however, exports rose the least in five months while imports were sluggish. In the first three quarters of the year, the economy grew by 4.8%, compared with China’s full-year target of around 5%. During the period, fixed investment rose by 3.4% yoy, topping consensus of 3.3%. source: National Bureau of Statistics of China

The Gross Domestic Product (GDP) in China expanded 4.60 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in China averaged 8.80 percent from 1989 until 2024, reaching an all time high of 18.70 percent in the first quarter of 2021 and a record low of -6.90 percent in the first quarter of 2020. This page provides - China GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. China GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2024.

The Gross Domestic Product (GDP) in China expanded 4.60 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in China is expected to be 4.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China GDP Annual Growth Rate is projected to trend around 4.50 percent in 2025, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-07-15 02:00 AM
GDP Growth Rate YoY
Q2 4.7% 5.3% 5.1% 5.0%
2024-10-18 02:00 AM
GDP Growth Rate YoY
Q3 4.6% 4.7% 4.5% 4.5%
2025-01-17 02:00 AM
GDP Growth Rate YoY
Q4 5%


Related Last Previous Unit Reference
Full Year GDP Growth 5.20 3.00 percent Dec 2023
GDP Growth Rate YoY 4.60 4.70 percent Sep 2024
GDP Constant Prices 900619.40 583168.10 CNY Hundred Million Sep 2024
GDP from Agriculture 57733.10 30660.00 CNY Hundred Million Sep 2024
GDP from Construction 60892.30 37771.10 CNY Hundred Million Sep 2024
GDP from Manufacturing 302192.10 199858.10 CNY Hundred Million Sep 2024
GDP from Services 530651.10 349646.10 CNY Hundred Million Sep 2024
GDP from Transport 45121.40 28684.30 CNY Hundred Million Sep 2024
GDP Growth Rate 0.90 0.70 percent Sep 2024
Gross Fixed Capital Formation 521112.30 504835.00 CNY Hundred Million Dec 2023
Gross National Product 1251297.00 1197250.40 CNY Hundred Million Dec 2023

China GDP Annual Growth Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
4.60 4.70 18.70 -6.90 1989 - 2024 percent Quarterly


News Stream
China Q3 GDP Growth Slightly Above Estimates
The Chinese economy expanded 4.6% yoy in Q3 of 2024, compared with market forecasts of 4.5% and a 4.7% rise in Q2. It marked the slowest annual growth rate since Q1 2023, amid persistent property weakness, shaky domestic demand, deflation risks, and trade frictions with the West. The latest figures came as Beijing had intensified stimulus measures to boost economic recovery and rebuild confidence. In September alone, there were some positive signs: industrial output and retail sales both saw their largest increases in four months, and the urban jobless rate fell to a three-month low of 5.1%. On the trade front, however, exports rose the least in five months while imports were sluggish. In the first three quarters of the year, the economy grew by 4.8%, compared with China’s full-year target of around 5%. During the period, fixed investment rose by 3.4% yoy, topping consensus of 3.3%.
2024-10-18
China Q2 GDP Growth Below Estimates
The Chinese economy expanded 4.7% yoy in Q2 of 2024, missing market forecasts of 5.1% and slowing from a 5.3% growth in Q1. It was the weakest yearly advance since Q1 of 2023, amid a persistent property downturn, weak domestic demand, falling yuan, and trade frictions with the West. The latest figures came as the Communist Party began the Third Plenum, a key political event in which various reform measures are likely to be launched, along with recommendations for more support action to boost recovery. The economy grew by 5.0% during the first half of the year while the government is targeting the GDP to grow around 5.0% this year. In June alone, economic indicators mostly presented a slowdown, with retail sales rising the least in almost 1-1/2 years and industrial output growth at a 3-month low. Meantime, the urban jobless rate remained unchanged at 5.0% for the third month. On the trade front, exports increased more than expected last month but imports unexpectedly shrank.
2024-07-15
China Q1 GDP Growth Beats Estimates
The Chinese economy advanced 5.3% yoy in Q1 of 2024, exceeding market forecasts of 5.0% and following a 5.2% growth in the prior period. It was the steepest yearly expansion since Q2 of 2023, lifted by continued support measures from Beijing and spending related to the Lunar New Year festival. During the first three months of 2024, fixed investment grew by 4.5%, the most in nearly a year and above the consensus of 4.3%. Meanwhile, the statistics agency said the economy had made a good start, delivering a strong foundation for achieving the GDP growth target of around 5% this year. However, March data showed that industrial output and retail sales rose less than estimated, underscoring that more policy easing remains necessary for the economy. At the same time, the surveyed jobless rate came at 5.2% in March, staying near February's 7-month high of 5.3%. Tuesday's release did not include China's youth unemployment rate, which hit a record high of 21.3% in June 2023.
2024-04-16