The recently carried out final verification led the NBS to update China’s GDP, which rose by 556.7 billion yuan when compared to the preliminary number released in January.

China’s National Bureau of Statistics (NBS) has upwardly revised the country’s GDP growth rate by 0.3 percentage points compared to the preliminary figure released in January this year. The revised GDP growth now stands at 8.4 per cent year-on-year (YoY). The GDP during the year increased to 114.92 trillion yuan (around $16.52 trillion), NBS said.

The country’s annual GDP is calculated according to two sets of accounting: preliminary calculation and final verification. The final verification, which was conducted by NBS, is based on annual statistical data and financial data from China’s ministry of finance and other departments.

Fibre2Fashion News Desk (NB)