China raised the calculation of its Gross Domestic Product (GDP) for 2023 by 2.7%, to 129.4 trillion yuan, equivalent to US$17.73 trillion, said the head of the country’s statistics office at a press conference press conference this Thursday, 26th.
There are no details on how the revision might affect China’s real GDP, which excludes the effects of price changes. In January, China had announced a 5.2% increase in GDP for 2023.
This Thursday’s review could boost real GDP in 2023 and, at the same time, increase pressure on economic expansion in 2024.
The Chinese government has set a growth target of around 5% for this year. The NBS, as the country’s statistics agency is known, will reveal more details about last year’s review in the coming days.
