China GDP Growth Rate

Last Release

Dec 31, 2024

Actual

1.6

Units In

0.9

Frequency

Quarterly

Next Release

Apr 16, 2025

Time to Release

2 Months 26 Days 1 Hours

Highest	Lowest	Average	Date Range	Source
11.6 Jun 2020	-10.5 Mar 2020	1.57 %	2010-2024	National Bureau of Statistics of China

In China, the growth rate in GDP measures the change in the seasonally adjusted value of the goods and services produced by the Chinese economy during the quarter. As China’s traditional growth engines of manufacturing and construction are slowing down, services have emerged as the new driver. In the last few quarters strength in services and consumption helped to offset weaker manufacturing and exports. .

Latest Updates

The Chinese GDP grew by a seasonally adjusted 1.6% in Q4 2024, accelerating from an upwardly revised 1.3% rise in Q3 and marking the strongest quarterly increase since Q1 2023. This also indicated the 10th consecutive quarter of advance, driven by a broad range of stimulus measures since September to revive stalled economic momentum and address persistent challenges, including rising deflation risks, persistently weak demand, the prolonged property sector downturn, and high local government debt levels. On the monetary front, the PBoC has maintained a supportive stance, reducing the RRR for commercial banks by 50bps each in September and February, and cutting several key interest rates to boost liquidity and spur activity. Despite these measures, the Chinese statistics agency highlighted ongoing risks from a challenging external environment and subdued domestic demand. It emphasized the need for more proactive and effective macroeconomic policies to sustain recovery.