China revises down 2017 economic growth rate to 6.8 per cent ahead of announcing 2018 GDP figures

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China’s economic growth rate for 2017 has been revised down to 6.8 per cent from 6.9 per cent as part of annual data revisions, the National Bureau of Statistics (NBS) announced on Friday.

The estimated size of the economy at the end of 2017 was down by 636.7 billion yuan (US$93.9 billion), or 0.8 per cent, to 82.08 trillion yuan based on the final verification of economic figures, the bureau said.

It typically releases the final reading of each year’s GDP figure in the second January after the end of the concerned.

The downward revision to 2017 GDP was larger than it was the year before. The bureau revised down the size of the economy in 2016 by 0.07 per cent, and left the annual growth rate unrevised.

The adjustment announced on Friday created a lower base for computing the growth rate for 2018. It is unclear if the lower base will have any effect on the growth rate calculation.

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