Includes China real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Data sets offering a full view of China’s economy, international trade and finance sector. With links to rankings of the country’s best and safest banks. Updated October 2023
China GDP: An Engine For The World Economy
With its vast labor market, China has been a key player in the global economic landscape for decades. Since the late 1970s, China has achieved an average annual GDP growth rate of over 9%. Over the same period, more than 800 million people were lifted out of poverty, and enjoyed better access to health, education and employment opportunities.
In recent years, China has been furthering its presence in emerging and developing countries through initiatives like the Belt and Road Initiative (BRI). At the same time, it remains the world’s second-largest FDI destination, following the United States. An upper-middle-income country, China is quickly progressing from a low-cost manufacturing economy to a high-value, innovation-driven economy. An aging population, trade and technological competition with the U.S., slowing growth and shifts in global supply chains dynamics are some of the challenges faced by China.
China GDP & Economic Overview
9.6 million sq km
(some territorial disputes)
|Type of Government||One-Party State|
|Total Population||1.4 billion|
|Total GDP||USD 19.3 trillion (2022)|
|Adult Per Capita Income (PPP)||USD 27,655|
Banking & Finance
Central Bank Leadership
Appointed in July, Pan Gongsheng is the newly minted governor (and Communist Party secretary) of the People’s Bank of China.
Prior to this position, the respected economist oversaw China’s $3 trillion foreign currency reserves. His tenure comes at a challenging time for China with poor post-pandemic growth and an explosion of nonperforming loans from the real estate sector and local governments.
Pan’s predecessor, Yi Gang, left him with a 3% GDP growth in 2022, which was the lowest since the 1970s and a currency that fell below the symbolic 7 renminbi to the US dollar in May and an emerging deflationary dynamic.
Our 2023 report assesses the governor of the People’s Bank of China–and all the world’s central bank governors.
|Central Bank||People’s Bank of China|
|Currency||Renminbi yuan (RMB)|
|International Reserves||USD 3.1 trillion (2023)|
|Primary Stock Exchange||Shanghai Stock Exchange|
China Trade & Investment
Industrial & Commercial Bank of China (ICBC)
Ping An Insurance Group
|Total Exports||USD 2.27 trillion (2022)|
|Leading Exports||Broadcasting equipment, Computers, Integrated circuits, Office machinery and parts, Telephones|
|Major Trade Partners – Export||
United States, Hong Kong, China
Japan, South Korea, Vietnam
|Total Imports||USD 3.5 trillion (2022)|
Crude petroleum, Integrated circuits, Iron, Natural gas, Cars
|Major Trade Partners – Import||Asia (other, unspecified), South Korea, Japan, United States, Australia|
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000