China’s GDP hits 121.0207 trln yuan in 2022

BEIJING, Jan. 17 (Xinhua) — China’s gross domestic product (GDP) hit 121.0207 trillion yuan (about 17.95 trillion U.S. dollars) as it posted a 3-percent year-on-year expansion in 2022, data from the National Bureau of Statistics showed Tuesday.

http://www.stats.gov.cn/english/PressRelease/202301/t20230117_1892094.html

In 2022, faced with challenges of high winds and choppy waters in the global environment as well as arduous tasks to advance reform, promote development and maintain stability at home, under the strong leadership of the Central Committee of the Communist Party of China with Comrade Xi Jinping as the core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, adhered to the general working guideline of making progress while maintaining stability, coordinated the work of epidemic prevention and control and economic and social development in an effective way, and responded to the internal and external challenges effectively. As a result, the national economy continued to develop despite downward pressure, the economic output reached a new level, the employment and prices were generally stable, people’s lives were continuously improved, new achievements were secured in high-quality development, and the overall economic and social development was stable and healthy.

According to preliminary estimates, the gross domestic product (GDP) was 121,020.7 billion yuan in 2022, an increase of 3.0 percent over last year at constant prices. By industries, the value added of the primary industry was 8,834.5 billion yuan, up by 4.1 percent over last year, that of the secondary industry was 48,316.4 billion yuan, up by 3.8 percent and that of the tertiary industry was 63,869.8 billion yuan, up by 2.3 percent. By quarter, the GDP for the first quarter went up by 4.8 percent year on year, up by 0.4 percent for the second quarter, 3.9 percent for the third quarter and 2.9 percent for the fourth quarter. The quarther-on-quarter growth of GDP for the fourth quarter stayed the same as that for the third quarter.