The Chinese economy advanced 0.4% yoy in Q2 of 2022, missing market consensus of 1.0% and slowing sharply from a 4.8% growth in Q1. The latest figure was the softest pace of expansion since a contraction in Q1 2020, when the initial coronavirus outbreak emerged in Wuhan. China's statistics agency described the result for Q1 as “hard-earned achievements” and warned about the lingering impact of outbreaks and “shrinking demand” at home. It also noted the rising “risk of stagflation in the world economy” and tightening monetary policy overseas. For the first half of the year, the economy grew 2.5%. Beijing has targeted the country's GDP to grow around 5.5% this year, after a 8.1% expansion in 2021 which was the steepest pace in nearly a decade, and following a 2.2% growth in 2020. Meantime, activity data for June showed some improvement, as the Chinese government has rolled out a raft of measures, cutting taxes for businesses and channeling more money into infrastructure projects.
National Bureau of Statistics of China
GDP Annual Growth Rate in China averaged 9.09 percent from 1989 until 2022, 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 September of 2022.
GDP Annual Growth Rate in China is expected to be 3.50 percent by the end of this quarter, according to 王者荣耀电竞(江西)积分排榜 global macro models and analysts expectations. In the long-term, the China GDP Annual Growth Rate is projected to trend around 5.40 percent in 2023, according to our econometric models.