Report by the WTO Secretariat

Since China’s previous Trade Policy Review in 2018, the country’s economy has been a major driver of global growth. Real GDP growth rates fell from just under 7.0% in 2016-18 to 6.0% in 2019 and 2.3% in 2020. Growth is projected to reach 6.0% again in 2021, as economic activities are expected to normalize. China’s GDP per capita was USD 11,710 in 2020, up from USD 9,976 in 2018. The long-term structural changes in China’s economy, away from agriculture and industry towards services, continued during the review period. Services now make up some 55% of GDP. Remarkable progress on poverty alleviation has been achieved over the past decades, resulting from high GDP growth rates and market-oriented reforms.