Categories
China Macro Focus ENG

Macro Focus: China Q2 GDP and other macro indicators

According to the data released by China's National Bureau of Statistics, in Q2 2021, China’s gross domestic product (GDP) reached 28,285.7 billion yuan, recording a year-on-year increase of 7.9% at constant prices and an average growth rate of 5.5% in two years.

Table 1. China's Year-on-Year GDP growth rate (%)
years1 quarter2 quarter3 quarters4th quarter
20166.96.86.86.9
20177.07.06.96.8
20186.96.96.76.5
20196.36.05.95.8
2020-6.83.24.96.5
202118.37.9  

Table 2. China's Quarter-on-Quarter growth rate (%)
years1 quarter2 quarter3 quarters4th quarter
20161.51.81.71.6
20171.81.81.61.6
20181.81.71.31.5
20191.61.41.21.5
2020-8.710.02.83.0
20210.41.3 

In the first half of the year, the contribution of final consumption expenditure to GDP growth was 61.7%.The contribution of total capital formation to GDP growth was 19.2%. The contribution of net exports of goods and services to GDP growth in the second quarter was 9.7%.

Services value added increased at an average growth rate of 4.9% in two years. The added value of services accounted for 55.7% of the GDP and contributed 53.0% to the national economic growth. Services account for around 80% of the country's actual use of foreign capital.

Focus on the High Tech sector


Full content is restricted to subscribers. If you have an active subscription, please login below. 

Subscribe to Macro Disruptions and get access to our Premium Research. FREE TRIAL available for professionals.