China: Facts, Events, Opinions (07/2023/259)

Where is China at the threshold of the fresh year in economical terms? The answer to this question is just published preliminary data on the year 2022.

GDP growth

The average GDP growth in China for the 4th fourth is 3% y/y – 1 of the weakest results since the start of this measurement in the PRC (since 1985). The mark of 5.5% growth has not been reached. It was marked by zero covid policy, lockdown, closing bets, breaking supply chains. Given all the events of last year and this achieved consequence is not bad. The GDP value of China last year reached 121.02 trillion RMB, or around 18.84 trillion USD, or 77.15 trillion PLN, which means that last year

China was the world's second economy. In the first place, as in years, the United States ranked itself with GDP worth $25.46 trillion. The 3rd place included Japan with a $4.3 trillion score, on the 4th Germany $ 4.0 trillion, on the 5th India $3.5 trillion. These 5 economies account for over 50% of planet GDP in 2022.

Crops of cereals

Recorded and larger by 0.5% than in 2021. Farming increased importantly – by 3.8% y/y.

Industrial production

An increase of 3.6% y/y advanced technology sectors (by 7.4% y/y) and device sectors (by 5.6% y/y) developed rapidly. The production of eclectic cars increased by 97.5%, telecommunications equipment by 16.3%, industrial computers by 15% y/y. State-owned companies increased their production by 3.3%, private by 2.9%. abroad companies recorded a decrease of 1.0% y/y.

Services sector

It developed on average by 2.3% y/y, in the areas of data transmission, software, IT services by 9.1% y/y, and in the financial services manufacture by 5.6% y/y.

Investments in fixed assets

This is an increase of 5.1% y/y. In infrastructure by 9.4% y/y, production by 9.1% y/y, advanced technology by 18.9%.

Investments in real estate

Since April, there have been inheritances. Eventually, a 10% y/y decrease was recorded over the full year. Housing sales (valued) decreased by 26.7% y/y, in terms of the sold housing area by 24.3% y/y. It is worrying that real estate-related loans account for almost 40% of all bank loans, and real estate-related income accounts for 50% of local government revenue, for individuals they account for 60% of assets/materials.

Retail sale of consumer goods...

... unfortunately besides dropped by 0.2% y/y. Throughout 2022 she was at a low level. But online sales increased by 4.0% y/y.

Inflation (CPI)

It continued throughout the year at an assumed level below 3% y/y, the average in 2022 was 2% y/y.

Prices of producers (ex factory) PPI

This inflation rate increased by 4.1% y/y over the full year in the first quarter, though it threatened to "heat" and advanced price increases in the first quarter, and deflation was reported in the 4th quarter.