China Gross Domestic Product (GDP) Year to Date y/y

China Gross Domestic Product YTD y/y reflects the market value of all goods and services produced by all China residents since the beginning of the year up to the current date, compared to the same period a year ago. GDP is the main indicator of the national economy state and an important indicator of the country's level of development.

The National Bureau of Statistics of China uses a production approach in calculating GDP. It takes into account all paid goods and services produced in the country. Natural factors of potential goods growth (such as natural reproduction of wild plants or of fish in the sea) are excluded from the calculation. Data on Hong Kong, Macao and Taiwan GDP are also excluded from the calculation.

Production sectors are classified in two ways: according to the national industrial classifier and the level of processing (primary industry – agriculture and forestry, fishing; secondary industry - mining, industrial production and energy; tertiary sector - service industry).

GDP is calculated based on data collected from statistical reports from different sectors, as well as by collecting administrative data (from tax authorities, the Ministry of Finance, Insurance Regulatory Commission, the People's Bank of China, etc.).

GDP YTD y/y growth indicates a favorable economic situation and can have a positive effect on yuan quotes.