AEIR 2022

People’s Republic of China

Economic growth slowed to 2.3% in 2020 from 6.0% in 2019. On the demand side, investment was the main driver, contributing 2.2 percentage points. Consumption reduced growth by 0.5% in 2020 after contributing 3.5% in 2019, in line with the drop in household consumption and retail sales. On the supply side, services remained the main contributor to growth contributing 2.1 percentage points in 2020, down from 5.1% in 2019. Economic growth is forecast at 8.1% in 2021 and 5.5%. in 2022 as household consumption continues to recover. On the supply side, hospitality, recreation, and tourism is expected to rebound as more people are vaccinated.

Source: Asian Development Outlook 2021.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 3.0 (Apr22)3.0 3.0
Broad Money Growth 2 9.7 (Mar22)9.7 9.2
Headline Inflation Rate 3 1.5 (Mar22)0.9 0.4
Industrial/ Manufacturing Production Growth Rate 3 5.0 (Mar22)5.0 14.1
Merchandise Export Growth 3 14.5 (Mar22)14.5 6.1
Exchange Rate Index 4 79.8 (Apr22)78.7 80.8
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; CEIC Database.

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