China Gross Domestic Product y/y reflects the market value of all goods and services produced by all China residents during a given quarter compared to the same quarter of the previous year. GDP is the main indicator of the national economy state and an important indicator of the country's level of development.
The National Bureau of Statistics of China uses production approach for GDP calculation, which is based on the calculation of value added (interim costs are subtracted from the total value of manufactured goods).
GDP growth indicates a favorable economic situation and can have a positive effect on yuan quotes.