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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 book "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 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.

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 CN¥ 99.08651 trillion, or US$14.4 trillion (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

• Economy of China
• Economic history of China (1949–present)
• List of Chinese administrative divisions by GDP per capita
• List of Chinese administrative divisions by GDP
• List of Chinese prefecture-level cities by GDP per capita
• List of Chinese prefecture-level cities by GDP
• List of prefecture-level divisions of China by GDP
• List of renminbi exchange rates
• List of the largest administrative divisions by GRDP

References

1. China NBS / Bulletin on Reforming China 's GDP Accounting and Data Release System: stats.gov.cn (12-Jan-17) or China NBS Announcement: GDP Revision according to SNA2008 (Chinese), China revises Historical GDP according to SNA2008 Archived 2016-10-16 at the Wayback Machine; see finance.qq.com Archived 2017-03-12 at the Wayback Machine, sina.com.cn
2. China Economic History
3. "IMF World Economic Outlook database". Retrieved 2020-01-28.
4. National Bureau of Statistics of China. "Annual > Indicators > National Accounts > Gross Domestic Product". data.stats.gov.cn. Retrieved 2 December 2020.
5. International Monetary Fund (October 2020). "People's Republic of China". Retrieved 2 December 2020.
6. Jamrisko, Michelle (6 March 2018). "China's Economy to Overtake Euro Zone This Year". Bloomberg. Retrieved 2022-05-02.
7. the historical PPP GDP figures of Mainland China and exchange rates of Chinese yuan to Int'l. dollar are based on the World Economic Outlook Database April 2019 "Download WEO Data: April 2019 Edition" (Press release). International Monetary Fund. April 9, 2019. Retrieved April 29, 2019.
8. ^ the annual data of China'GDP: published on China NBS National data."National data / annual / national accounts / Gross Domestic Product" (Press release). China NBS. March 2023. Retrieved May 12, 2024.
9. ^ Searched the web China NBS about the 4th National Economic Census.
10. The mid-year population is the average at the end of the previous year and the end of the current year
11. ^ For the exchange rate of the latest year, refer to the Statistical Communiqué of that year "Statistical communiqué of the People's Republic of China on the national economic and social development" (Press release). China NBS. Retrieved June 3, 2024.; Refer to the national statistical database for the historical exchange rates "national data - annual - foreign tarde and economic cooperation - reference exchange rate of renminbi (period average)" (Press release). China NBS. Retrieved February 29, 2024., and for the historical exchange rates also published on the statistical yearbooks "statistical yearbooks (Chinese / English)" (Press release). China NBS. Retrieved June 3, 2024.
12. Quarterly GDP data: national data. stats.gov.cn. 2024. Retrieved 12 May 2024.
13. "National Accounts - Analysis of Main Aggregates (AMA)". unstats.un.org. United Nations Statistics Division. January 2024. Retrieved 26 May 2024.
14. "World Development Indicators (Metadata last updated on March 2023)". worldbank.org. World Bank. March 2024. Retrieved 26 May 2024.; also see GDP at market prices (current US$) or GDP (current LCU)
15. "World Economic Outlook Database, April 2024". IMF.org. International Monetary Fund. April 16, 2024. Retrieved 3 June 2024.

External links

• China Macroeconomic and Industrial Data Archived 2016-10-17 at the Wayback Machine

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

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