China revises up 2023 GDP to $17.73 trillion

BEIJING (Reuters) – China on Thursday revised up its 2023 gross domestic product (GDP) by 2.7% to 129.4 trillion yuan ($17.73 trillion), the head of the National Bureau of Statistics Kang Yi said at a press conference in Beijing.

China’s fifth National Economic Census, released by the bureau on Thursday, showed more business entities and number of people employed in the secondary and tertiary industries at end-2023 compared with end-2018.

But people employed in property developers dropped 27% to 2.71 million at end-2023, versus end-2018, the economic census data showed.

($1 = 7.2992 Chinese yuan)