business

China revises preliminary calculation of 2019 GDP

BEIJING, Dec. 30 (Xinhua) — China’s gross domestic product (GDP) in 2019 was revised to 98.65 trillion yuan (about 15.1 trillion U.S. dollars), official data showed Wednesday.

The amount represents a reduction of 435 billion yuan, or 0.1 percentage points, from the preliminary calculation, data from the final verification conducted by the National Bureau of Statistics (NBS) showed.

At constant prices, the 2019 GDP increased 6 percent from one year earlier, according to the NBS.

The bureau revises each year’s GDP through two procedures, the preliminary calculation and final verification.

The preliminary calculation of GDP is revised in a final verification based on the annual statistical data, fiscal final accounts and related departments’ financial records.

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