According to preliminary estimates of the National Bureau of Statistics of China, the gross domestic product (GDP) in the first three quarters reached 87,026.9 billion yuan, up by 3.0 percent year on year at a constant price, or 0.5 percentage points faster than that in the first half year.
By industry, the value added of the primary industry was 5,477.9 billion yuan, up by 4.2 percent year on year; that of the secondary industry was 35,018.9 billion yuan, up by 3.9 percent; and that of the tertiary industry was 46,530.0 billion yuan, up by 2.3 percent.
By quarter, the GDP grew by 4.8 percent year on year in the first quarter, 0.4 percent in the second quarter, and 3.9 percent in the third quarter. The GDP in the third quarter was up by 3.9 percent quarter on quarter.
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The decline of major economic indicators in China narrowed in May, the economy in June registered a stable recovery, and the economy in the second quarter achieved positive growth.
According to the preliminary estimates, the gross domestic product (GDP) of China in the first half of 2022 was 56,264.2 billion yuan, up by 2.5 percent year on year at constant prices.
By industry, the value added of the primary industry was 2,913.7 billion yuan, up by 5.0 percent year on year; the secondary industry 22,863.6 billion yuan, up by 3.2 percent; and the tertiary industry 30,486.8 billion yuan, up by 1.8 percent.
Specifically, the GDP for the second quarter was 29,246.4 billion yuan, up by 0.4 percent year on year.
By industry, in the second quarter, the value added of the primary industry was 1,818.3 billion yuan, up by 4.4 percent year on year; the secondary industry 12,245.0 billion yuan, up by 0.9 percent; and the tertiary industry 15,183.1 billion yuan, down by 0.4 percent.
In the first half year, the investment in fixed assets (excluding rural households) reached 27,143.0 billion yuan, up by 6.1 percent year on year.
Specifically, in the first half year, the investment in infrastructure was up by 7.1 percent, manufacturing up by 10.4 percent, real estate development down by 5.4 percent.
The floor space of commercial buildings sold reached 689.23 million square meters, down by 22.2 percent; the total sales of commercial buildings were 6,607.2 billion yuan, down by 28.9 percent.
By industry, the investment in the primary industry went up by 4.0 percent, the secondary industry up by 10.9 percent, and the tertiary industry up by 4.0 percent. The private investment was up by 3.5 percent.
The investment in high-tech industries grew by 20.2 percent, of which the investment in high-tech manufacturing and high-tech services increased by 23.8 percent and 12.6 percent, respectively.
In terms of high-tech manufacturing, the investment in the manufacturing of electronic and communication equipment and in the manufacturing of medical equipment, measuring instruments, and meters grew by 28.8 percent and 28.0 percent, respectively.
In terms of high-tech services, the investment in services for transforming scientific and technological achievements and in research, development, and design services went up by 13.6 percent and 12.4 percent, respectively.
The investment in social sectors went up by 14.9 percent, among which the investment in health and education went up by 34.5 percent and 10.0 percent, respectively.
In the second quarter, the investment in fixed assets (excluding rural households) witnessed a year-on-year increase of 4.2 percent. Specifically, the growth rate was 1.8 percent in April, accelerated to 4.6 percent in May, and rebounded further to 5.6 percent in June.
In June, the investment in fixed assets (excluding rural households) went up by 0.95 percent month on month.
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China GDP Grew 8.1% in 2021; Q4 slowed to 4%
According to the preliminary estimates, China gross domestic product (GDP) in 2021 reached 114,367 billion yuan in 2021, an increase of 8.1 percent over the previous year at constant prices with an average two-year growth of 5.1 percent.
- Q1 GDP up by 18.3 percent year on year
- Q2 7.9 percent
- Q3 4.9 percent
- Q4 4.0 percent
By industries, the value-added of the primary industry was 8,308.6 billion yuan, up by 7.1 percent over the previous year, that of the secondary industry was 45,090.4 billion yuan, up by 8.2 percent and that of the tertiary industry was 60,968.0 billion yuan, up by 8.2 percent.
The total output of grain in 2021 was 682.85 million tons, an increase of 13.36 million tons, or up by 2.0 percent over the previous year. Of this total, the output of summer grain was 145.96 million tons, up by 2.2 percent, and that of early rice was 28.02 million tons, up by 2.7 percent. The output of autumn grain reached 508.88 million tons, up by 1.9 percent.
The total value added of industrial enterprises above the designated size increased by 9.6 percent over the previous year, an average two-year growth of 6.1 percent.
- mining was up by 5.3 percent
- manufacturing up by 9.8 percent
- production and supply of electricity, thermal power, gas and water up by 11.4 percent.
- high-tech manufacturing and equipment manufacturing went up by 18.2 percent and 12.9 percent respectively
The production of new energy vehicles, industrial robots, integrated circuits, and microcomputer equipment grew by 145.6 percent, 44.9 percent, 33.3 percent, and 22.3 percent, respectively.
In 2021, the national industrial capacity utilization rate reached 77.5 percent, 3.0 percentage points higher than that of the previous year.
The tertiary industry experienced fast growth in 2021.
The value-added of the information transmission, software and information technology services, accommodation and catering services, and transportation, storage and postal services grew by 17.2 percent, 14.5 percent, and 12.1 percent over the previous year respectively.
In 2021, the Index of Services Production grew by 13.1 percent over that of the previous year with the average two-year growth of 6.0 percent.
In 2021, the investment in fixed assets (excluding rural households) reached 54,454.7 billion yuan, up by 4.9 percent over the previous year with the average two-year growth of 3.9 percent.
Specifically, the investment in infrastructure went up by 0.4 percent, manufacturing up by 13.5 percent, and real estate development up by 4.4 percent. The private investment was 30,765.9 billion yuan, up by 7.0 percent, accounting for 56.5 percent of the total investment.
The investment in high-tech industries grew by 17.1 percent, 12.2 percentage points faster than the total investment, of which the investment in high-tech manufacturing and high-tech services grew by 22.2 percent and 7.9 percent, respectively.
In terms of high-tech manufacturing, the investment in electronics and communication equipment manufacturing and in manufacturing of computers and office devices grew by 25.8 percent and 21.1 percent, respectively.
In terms of high-tech services, the investment in e-commerce services and services for the transformation of scientific and technological achievements grew by 60.3 percent and 16.0 percent, respectively.
The investment in social sector went up by 10.7 percent over the previous year. Specifically, the investment in the health sector and in the education sector went up by 24.5 percent and 11.7 percent respectively.
In 2021, the total value of imports and exports of goods was 39,100.9 billion yuan, an increase of 21.4 percent over the previous year.
Specifically, the total value of exports was 21,734.8 billion yuan, up by 21.2 percent; the total value of imports was 17,366.1 billion yuan, up by 21.5 percent. The trade balance was 4,368.7 billion yuan in surplus.
The imports and exports of general trade grew by 24.7 percent, accounting for 61.6 percent of the total value of the imports and exports, an increase of 1.6 percentage points over the previous year.
The imports and exports by private enterprises grew by 26.7 percent, accounting for 48.6 percent of the total value of the imports and exports, 2 percentage points higher than that of the previous year.
Find out about China’s economy in 2021:
- China retail sales up 12.5% in 2021; online retail grew 14.1%
- China Consumer Price Index (CPI) in 2021
- Statistics: China per capita disposable income
- China’s population
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