China revises preliminary calculation of 2020 GDP
Updated 14:32, 17-Dec-2021
China revises preliminary calculation of 2020 GDP. /CFP

China revises preliminary calculation of 2020 GDP. /CFP

China's gross domestic product (GDP) in 2020 was revised to 101.36 trillion yuan (about $15.92 trillion), official data showed Friday.

The amount represents a reduction of 241.9 billion yuan, or 0.1 percentage points, from the preliminary calculation, data from the final verification conducted by the National Bureau of Statistics (NBS) showed.

At constant prices, the 2020 GDP increased 2.2 percent year on year, according to the NBS.

China's annual GDP goes through two sets of accounting in accordance with the current national economic accounting system. The first is the preliminary calculation of GDP, which will be revised in a final verification based on the annual statistical data, fiscal final accounts and departmental administrative records.

Data also shows that the added value of the primary industry, the secondary industry and the tertiary industry in 2020 rose 3.1 percent , 2.5 percent and 1.9 percent year on year respectively, which is 0.1 percentage points higher, 0.1 percentage points lower and 0.2 percentage points lower than the preliminary calculations, respectively.

(With input from Xinhua)

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