Factbox: Data highlights of China's economy in 2023

0 Comment(s)Print E-mail Xinhua, January 18, 2024
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China has successfully achieved the major economic targets set for 2023 and recorded a rebound and improvements in the economy, despite external pressure and internal difficulties.

The following are some data highlights released by the National Bureau of Statistics on Wednesday.

-- China's gross domestic product (GDP) posted a growth of 5.2 percent year on year in 2023, higher than the annual target of around 5 percent. It reached a record of 126.06 trillion yuan (about 17.71 trillion U.S. dollars) last year.

In the fourth quarter, the Chinese economy expanded 5.2 percent year on year, and grew 1 percent quarter on quarter.

-- The value-added industrial output, an important economic indicator, went up 4.6 percent year on year in 2023.

In December alone, the industrial output grew 6.8 percent from 2022 and 0.52 percent from November.

-- The retail sales of consumer goods, a major indicator of the country's consumption strength, climbed 7.2 percent year on year to reach 47.15 trillion yuan last year.

In December alone, the retail sales of consumer goods rose 7.4 percent year on year.

-- The fixed-asset investment went up 3 percent year on year in 2023 to stand at 50.3 trillion yuan.

High-tech industries saw strong growth, with investment up 10.3 percent year on year. Specifically, investment in high-tech manufacturing and high-tech services sectors expanded by 9.9 percent and 11.4 percent, respectively.

-- The per capita disposable income was 39,218 yuan in 2023, up 6.3 percent year on year in nominal terms.

After deducting price factors, per capita disposable income rose 6.1 percent from the previous year.

-- The surveyed urban unemployment rate on average in China stood at 5.2 percent in 2023, down 0.4 percentage points from 2022.

The surveyed unemployment rate of the 16-24, 25-29 and 30-59 age groups of the workforce excluding students was 14.9 percent, 6.1 percent and 3.9 percent, respectively.

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