Analysis of Global Power Market
Analysis of Macro Economy in China
Nominal GDP and Per Capita GDP
Nominal GDP and Real GDP Growth, China, 2013-2023E
CAGR:8.2%
CAGR:8.3%
RMB Trillion
160
15
140
131.7
122.0
120
113.0
104.4
12
96.1
100
88.6
81.2
80
59.7 64.7
69.9
74.6
9
60
5.8 5.6
420
7.8
40
7.3
6.9 6.7 6.9
6.6
6.2 6.2
20
6.0
0
2013 2014 2015 2016 2017 2018 2019E 2020E 2021E 2022 2023E
Real GDP Growth
Nominal GDP
Nominal GDP per Capita, China, 2013-2023E
RMB Thousand
120
CAGR:+7.9%
100
CAGR:+7.6%
85.9
79.9
80
74.1
68.5
63.4
60
43.9
47.3 50.9 53.9
58.4
40
20
0
92.7
2013 2014 2015 2016 2017 2018 2019E 2020E 2021E 2022 2023E
CO
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3
Highlights
China's nominal GDP increased from RMB 59.7
trillion in 2013 to RMB 88.6 trillion in 2018,
experiencing a CAGR of 8.2%, and is expected
to increase further to RMB 131.7 trillion in 2023,
representing a CAGR of 8.3% from 2018 to 2023.
➤ China's nominal GDP per capita increased from
RMB 43.9 thousand in 2013 to RMB 63.4
thousand in 2018, representing a CAGR of 7.6%,
and is expected to increase to RMB 92.7
thousand in 2023, with a CAGR of 7.9%.
China's macro economy, indicated by real GDP
growth rate, is undergoing a soft landing from
2019 to 2023. The ongoing structural adjustment
of the economy in China is expected to improve
the quality and efficiency of economic
development. The future GDP growth is
expected to be driven mainly by expanding
domestic consumption, stable infrastructure
investment and development of innovative
industries.
The rising nominal GDP per capita will contribute
to the increase in electricity consumption per
capita, which will stimulate the development of
China's electricity market.
Source: IMF, Frost & Sullivan
FROST & SULLIVAN
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