Despite the implementation of measures to tighten the property market and less decisive policy support, the economy managed to expand at the fastest pace in one year in Q4. Robust dynamics in retail sales and manufacturing activities were behind the acceleration. On the downside, investment may have weakened in the same period due to weaker infrastructure investment. While no public announcement was made following December’s Central Economic Work Conference, analysts believe that the main economic guidelines for this year will be ensuring stability and containing economic risks in the face of a challenging global context. Promoting reforms and bolder fiscal support will be key elements to achieve this, while official economic targets will be announced at the National People’s Congress in March.

China Economy Data

2011 2012 2013 2014 2015
Population (million) 1,347 1,354 1,361 1,368 1,375
GDP per capita (USD) 5,575 6,260 7,037 7,569 7,808
GDP (USD bn) 7,511 8,476 9,576 10,352 10,736
Economic Growth (GDP, annual variation in %) 9.5 7.8 7.7 7.3 6.9
Consumption (annual variation in %) 11.0 9.1 7.3 7.8
Investment (annual variation in %) 24.0 20.6 19.6 15.7 10.0
Industrial Production (annual variation in %) 13.9 10.0 9.7 8.3 6.1
Retail Sales (annual variation in %) 17.1 14.3 13.1 12.0 10.7
Unemployment Rate 4.1 4.1 4.1 4.1 4.1
Fiscal Balance (% of GDP) -1.1 -1.6 -1.9 -1.8 -3.5
Public Debt (% of GDP) 14.9 14.5 14.8 15.0
Money (annual variation in %) 13.6 13.8 13.6 12.2 13.3
Inflation Rate (CPI, annual variation in %, eop) 4.1 2.5 2.5 1.5 1.6
Inflation Rate (CPI, annual variation in %) 5.4 2.6 2.6 2.0 1.4
Inflation (PPI, annual variation in %) 6.0 -1.7 -1.9 -1.9 -5.2
Policy Interest Rate (%) 6.56 6.00 6.00 5.60 4.35
Stock Market (annual variation in %) -21.7 3.2 -6.7 52.9 9.4
Exchange Rate (vs USD) 6.29 6.23 6.05 6.21 6.49
Exchange Rate (vs USD, aop) 6.46 6.31 6.15 6.16 6.28
Current Account (% of GDP) 1.8 2.5 1.5 2.7 3.1
Current Account Balance (USD bn) 136 215 148 277 331
Trade Balance (USD billion) 154 231 258 383 602
Exports (USD billion) 1,898 2,049 2,209 2,342 2,283
Imports (USD billion) 1,744 1,819 1,952 1,959 1,681
Exports (annual variation in %) 20.2 8.0 7.8 6.0 -2.5
Imports (annual variation in %) 25.0 4.3 7.3 0.4 -14.2
International Reserves (USD) 3,181 3,312 3,821 3,843 3,330
External Debt (% of GDP) 9.3 8.7 9.0 8.6 13.2

FocusEconomics

LEAVE A REPLY

Please enter your comment!
Please enter your name here