China’s GDP +6.3% Q2 2023

According to the latest data released by the National Bureau of Statistics, China's GDP expanded 5.5 per cent year on year to RMB 59.3 trillion in the first half of 2023, while in the second quarter, China's GDP increased by 6.3 per cent on a yearly basis. On a quarterly basis, China's GDP grew by 0.8 per cent in the April-June period.

China's retail sales of consumer goods, a major indicator of the country's consumption strength, increased by 8.2 per cent in the first six months of 2023.

The country's fixed asset investment, a gauge of expenditure on items including infrastructure, property, machinery, and equipment rose 3.8 per cent in H1 2023.

China's value-added industrial output, a gauge of activity in the manufacturing, mining and utilities sectors, grew by 3.8 per cent in H1 2023, while China's value-added service output went up 6.4 per cent in the same period.

The urban unemployment stood at 5.3 per cent in the first half of 2023, 0.2 percentage points lower than that in the first quarter.