AEIR 2018

People’s Republic of China

Economic growth slowed to 6.6% in 2018 in line with the government’s 6.5% target. Consumption remained the main driver of growth, supported by a rapid increase in government social spending, a cut in personal income tax rates, and solid growth in household disposable income. Despite trade tensions, external trade expanded in 2018 due to frontloaded orders mid-year. FDI inflows increased by 21.0% on more attractive investment conditions, while FDI outflows declined due to tighter controls. Growth is expected to decline to 6.3% in 2019 and 6.1% in 2020 as the government continues to contain financial sector risk.
Source: Asian Development Outlook 2018 Update, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 2.0 (May19)3.0 3.0
Broad Money Growth 2 8.5 (Apr19)8.5 8.6
Headline Inflation Rate 3 2.5 (Apr19)2.3 1.8
Industrial/ Manufacturing Production Growth Rate 3 5.4 (Apr19)8.5 7.0
Merchandise Export Growth 3 -2.7 (Apr19)-2.7 13.8
Exchange Rate Index 4 83.3 (Apr19)83.3 78.1
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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