The Chinese economy advanced 18.3 percent year-on-year in the March quarter 2021, accelerating sharply from a 6.5 percent growth in the fourth quarter and compared with market consensus of 19 percent. This was the strongest pace of expansion since the series began in 1992, boosted by strengthening domestic and global demand, strict virus containment measures, and continued fiscal and monetary support. The latest reading reflected a low comparison base in 2020 when activity plunged due to the COVID-19 shocks. For 2021, China expects the economy to grow by more than 6%. However, the services sector and smaller firms still faced challenges, while consumer inflation was likely to remain moderate, National Bureau of Statistics spokeswoman Liu Aihua said. In 2020, the country's GDP expanded 2.3%, the slowest pace in more than four decades. source: National Bureau of Statistics of China
GDP Annual Growth Rate in China averaged 9.29 percent from 1989 until 2021, reaching an all time high of 18.30 percent in the first quarter of 2021 and a record low of -6.80 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 April of 2021.
GDP Annual Growth Rate in China is expected to be 5.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in China to stand at 5.60 in 12 months time. In the long-term, the China GDP Annual Growth Rate is projected to trend around 5.90 percent in 2022 and 5.40 percent in 2023, according to our econometric models.