China Economy
Key national economic indicators, compared with the United States
China’s economy at a glance
Consumer prices were down 0.1% from a year earlier as of April 2025, compared with 3.4% U.S. inflation. Real GDP grew 3.5% year over year in Q3 2023 (U.S.: 2.1% on the same basis).
The central bank’s policy rate stood at 2.90% as of June 2025, versus an effective federal funds rate of 3.63% in the U.S. The exchange rate was 6.7080 (CNY per USD), a 5.8% fall over the past year. Residential property prices were up 4.7% year over year as of Q1 2026.
China vs. the United States
| Indicator | China | As of | United States | As of |
|---|---|---|---|---|
| Inflation (CPI, YoY) | -0.1% | Apr 2025 | 3.4% | Aug 2026 |
| Real GDP growth (YoY) | 3.5% | Jul 2023 | 2.1% | Apr 2026 |
| Central bank policy rate | 2.90% | Jun 2025 | 3.63% | Aug 2026 |
Inflation (CPI)
Real GDP growth
Interest rates
Exchange rate
Home prices
Trade in goods
Consumer confidence
Comparing China with other economies
International statistics are compiled to common standards by the OECD, the IMF and the Bank for International Settlements, which makes cross-country comparison possible — but definitions still differ at the margins. Unemployment rates follow International Labour Organization guidelines, while inflation is measured with each country’s own consumer price index, which may weight housing, food and energy differently than the U.S. CPI. GDP growth on this page is year-over-year, so it is not directly comparable with the annualized quarterly rate usually quoted in U.S. news.
Exchange rates are shown as published by the Federal Reserve, so check the units: some currencies are quoted per U.S. dollar and others (such as the euro and British pound) in U.S. dollars per unit of the foreign currency. Policy rates are those set by each country’s central bank; for euro-area members such as Germany, France and Spain, the rate is set by the European Central Bank and is identical across the bloc.