This article includes a list of China's historical
gross domestic product (GDP) values, the market value of all final goods and services produced by a nation in a given year. The GDP
dollar estimates presented here are either calculated at market or government official exchange rates (nominal), or derived from
purchasing power parity (PPP) calculations. This article also includes historical
GDP growth.
In 1985, the
State Council of China (SCC) approved the establishment of a SNA (System of National Accounting), using GDP to measure the national economy. China started to study and then implement a new system of national economic accounting. In 1986, as the first citizen of the People's Republic of China to receive a Ph.D. in economics from an overseas country, Fengbo Zhang headed ''Chinese Macroeconomic Research'' - the key research project of the
seventh five-year plan, as well as completing and publishing the Chinese GDP data according to China's own research and calculations. A summary of the above events has been included in the boo
"Chinese Macroeconomic Structure and Policy" (June 1988)edited by Fengbo Zhang, and collectively authored by the
Research Center of the SCC. This is the first GDP data which was published by China.
The research utilized the
World Bank's method as a reference, and made numerous appropriate adjustments based on China's national condition. The GDP also has been converted to
U.S. dollar-based data by utilizing the
moving average exchange rate. The research systematically completed China's GDP and
GDP per capita from 1952 to 1986 and analyzed growth rate, the change and contribution rates of each component. The research also included international comparisons. Additionally, the research compared
MPS and
SNA, looking at the results from the two systems from analyzing Chinese economy. This achievement created the foundation for China GDP research.
The SCC issued "The notice regarding implementation of
System of National Accounting" in August 1992, the Western
SNA system officially is introduced to China, replaced
Soviet Union's
MPS system, Western economic indicator GDP became China's most important economic indicator. Based on Dr. Fengbo Zhang's research, in 1997, the
National Bureau of Statistics of China (NBS), in collaboration with
Hitotsubashi University
is a national university located in Tokyo, Japan. It has campuses in Kunitachi, Kodaira, and Chiyoda. One of the top 9 Designated National University in Japan, Hitotsubashi is a relatively small institution specialized solely in social scie ...
of Japan, re-estimated China's GDP Data from 1952 up to 1995 based on the SNA principal. In 2016, the
2008 SNA was formally brought into use.
When comparing Fengbo Zhang's GDP measurement in the 1980s and the GDP in 1997 by the
NBS and Japan's cooperative research, the two are found to be very consistent; the deviation rate each year is very slight, between only 0.1% and 7%. During this period, there were many data adjustments, with weighting factors undergoing significant changes along with each year's comparable price amendments, statistical method significant changes result in the substantial deviation. Even with science and technology as advanced as it is today, the single item survey is allowed at least ±3%, or a total of 6% deviation. Despite the extremely difficult conditions of a destroyed economy, blank theory, a lack of data, and simple methods in the 1980s, there is so little deviation for such a long period of time and the comprehensiveness of the national economic indicator, indicates that the research conducted by Fengbo Zhang with the support of the extensive group he trained is extremely rigorous, and their result very precise.
Xie Fuzhan, former Director, and
Ma Jiantang, current Director of the
NBS, both participated in Dr. Fengbo Zhang's research project in the 1980s, as assistant researcher and graduate student, respectively, of the Research Center of the SCC.
Current status
The gross domestic product of China in 2019 was , or (nominal).
China's nominal GDP surpassed that of Italy in 2000, France in 2005, the United Kingdom in 2006, Germany in 2007, Japan in 2010 and that of the
Eurozone in 2018 making China the
world's third largest economy after the
European Union and
United States.
But adjusting for
purchasing power parity (PPP), China became the world's second largest economy as early as 1999 surpassing Japan, and has toppled America to become the biggest economy since 2014.
From 1979 until 2010, China's average annual
GDP growth was 9.91%, reaching a historical high of 15.2% in 1984 and a record low of 3.8% in 1990. Based on the current price, the country's average annual GDP growth in these 32 years was 15.8%, reaching an historical high of 36.41% in 1994 and a record low of 6.25% in 1999.
China NBS data
Annual GDP
GDP by industries
Quarterly GDP
China's quarterly GDP estimation was formally established in 1992. Afterwards, following the development of SNA of China, quarterly GDP is successively standardized and improved in estimation methodology, accounting classification, accounting procedure, release time and data quality control. Accumulated quarterly GDP estimation is formed. Not only quarterly GDP estimation by industries is established but also quarterly GDP estimation at expenditure approach is being studied. the following is the quarterly GDP list.
Quarterly GDP by US dollars
Comparative data of three International organizations
See also
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Economy of China
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Economic history of China (1949–present)
The economic history of China describes the changes and developments in China's economy from the founding of the People's Republic of China (PRC) in 1949 to the present day.
China has been the fastest growing economy in the world since the 1 ...
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List of Chinese administrative divisions by GDP per capita
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List of Chinese administrative divisions by GDP
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List of Chinese prefecture-level cities by GDP per capita
The scope listed in the table is top prefectures by GDP per capita over ten thousand US dollars, including direct-administered municipalities and special administrative regions that are roughly comparable in area and economic volume. The unit of ...
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List of Chinese prefecture-level cities by GDP
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List of renminbi exchange rates
The renminbi (RMB, also known as Chinese yuan; ISO code: CNY) is the official currency of the People's Republic of China. Although it is not a freely convertible currency, and has an official exchange rate, the CNY plays an important role in the w ...
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List of country subdivisions by GDP over 200 billion US dollars
References
External links
China Macroeconomic and Industrial Data
Further reading
* Ta-Chung Liu, Kung-Chia Yeh: The Economy of the Chinese Mainland. National Income and Economic Development, 1933–1959. Princeton N. J. Princeton University Press
{{Economic history of China
GDP
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is ofte ...
Historical Gdp
China Historical
GDP, China, Historical