China GDP Annual Growth Rate

The Chinese economy expanded 4.9 percent year-on-year in the third quarter of 2021, easing sharply from a 7.9 percent growth in the previous period and slightly missing market consensus of 5.2 percent. It was the slowest pace of expansion since the third quarter last year, amid several headwinds including power shortages, supply chain bottlenecks, a persistent property bubble and COVID-19 outbreaks. Considering the first three quarters of the year, the economy grew 9.8 percent from a year earlier, with final consumption accounting for 64.8 percent of GDP growth. For 2021, China has set an economic growth target of above 6% after growing the least in over four decades in 2020.