Figure 2.2 Growth rate of GDP, 1978–2017
CHAPTER 2 ECONOMIC AND SOCIAL DEVELOPMENT
Source: National Bureau of Statistics, China Statistical Yearbook, 2018
During the sixth FYP (1981–1985), the eighth FYP (1991–1995) and the eleventh FYP (2006–2010), China’s GDP has maintained an average growth rate at double-digit levels. Since the twelfth FYP (2011–2015), the annual average growth rate fell back to 7.9 per cent, signifying China’s economy has entered into a phase of ‘new normal’. The GDP has grown at an average annual rate of 9.5 per cent from 1978 to 2017.