China Revises 2023 GDP to 129.4 Trillion Yuan, Up 2.7% with 3.4 Trillion Yuan Increase

Dec 26, 2024, 07:26 AM

China's National Bureau of Statistics has revised the country's 2023 GDP to 129.4 trillion yuan, reflecting an increase of 3.4 trillion yuan, or 2.7%, from prior estimates. This revision indicates a strengthening economic outlook for China, as it comes amidst data showing that at the end of 2023, there were 33.27 million legal entities in secondary and tertiary industries, marking a 52.7% increase from the end of 2018. Additionally, employment in these sectors rose to 428.98 million, up 11.9% from the same period. The business revenue for corporate enterprises in these industries reached 442.6 trillion yuan, a 50.2% increase compared to the end of 2018.