GDP (annual) in China

Gross Domestic Product measures the value of all final goods and services produced in China over a period. Released by the National Bureau of Statistics (NBS), it is the broadest gauge of the size and pace of growth of the world's second-largest economy.

The NBS estimates GDP from the output side (value added of industry, construction and services) and publishes it each quarter as a year-on-year and quarter-on-quarter rate, using seasonally adjusted data alongside a cumulative year-to-date figure.

It is the central gauge of China's cycle and of whether Beijing is meeting its official growth target. A stronger-than-expected reading lifts commodities, Asia-linked currencies and equities, while a soft print fuels expectations of stimulus and weighs on the yuan.

China's figures are released quickly and lightly revised, prompting doubts about smoothing; the cumulative year-to-date data blur the quarterly read, and seasonal adjustment around events such as Lunar New Year is tricky.