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Explainer | China economy: latest data about world’s second largest economy
- China is the world’s second largest economy behind the United States
- Gross domestic product (GDP) growth rate, consumer price index, purchasing managers’ indices, trade and industrial production are all key indicators
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A new version of this story has been published. Click here for the latest data about China's economy.
China’s economic data paint a comprehensive picture of the state of the world’s second largest economy.
These include data on gross domestic product (GDP), the consumer price index (CPI), the producer price index (PPI), industrial production and profits, purchasing managers’ indices (PMI), retail sales, foreign exchanges reserves, imports and exports, as well as the trade balance.
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However, the accuracy of official Chinese economic data has been called into question, given the lack of transparency on how it is generated.
Gross domestic product (GDP) growth rate: 6.5 per cent (Q4 2020)
China’s economy grew by 6.5 per cent in the fourth quarter of 2020, indicating a recovery from the damage caused by the coronavirus pandemic, following the historic 6.8 per cent decline in the first quarter.
China’s gross domestic product (GDP) is the value of all goods and services produced within the country during a specific period of time. Its GDP, and in particular its GDP growth rate, has come under intense scrutiny during the trade war with the United States as the important export engine struggled under American tariffs.
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