Macro-economic Data

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    A. Demography and Macroeconomy

    A.1 Population
    VariableEnd of 2022End of 2021End of 2020SourcesVar ID
    Total populationNot available1,412.36 million1,411.1 million
    WDI
    		A.1.1
    Average household sizeNot available2.772.63
    National Bureau of Statistics of China
    		A.1.3
    Urban population (% of total)Not available62.51% of total61.43% of total
    WDI
    		A.1.4
    Urban population growth (annual %)Not available1.84%2.08%
    WDI
    		A.1.5
    A.2 Economy
    VariableEnd of 2022End of 2021End of 2020SourcesVar ID
    GDP, current prices (U.S. dollars)18,100,044 USD (millions)17,759,307 USD (millions)14,862,564 USD (millions)
    WEO
    		A.2.1
    GDP based on PPP valuation of country GDP (Current international dollar)30,216,990 USD (millions)27,419,465 USD (millions)24,196,274 USD (millions)
    WEO
    		A.2.2
    GDP per capita, current prices (U.S. dollars)12,813.77 USD 12,572.07 USD 10,525 USD
    WEO
    		A.2.3
    GDP based on PPP per capita GDP (Current international dollar)21,391.85 USD 19,410.64 USD 17,134.72 USD
    WEO
    		A.2.4
    GDP, constant prices (Percent change)2.99%8.45%2.24%
    WEO
    		A.2.5
    Inflation, end of period consumer prices (Percent change)1.88%.85%2.49%
    WEO
    		A.2.6
    GDP, deflator (Index)119.38115.47112.14
    WEO
    		A.2.7
    Consumer price index131.92129.37128.11
    WDI
    		A.2.8
    GINI Index  38.20
    WDI
    		A.2.9
    Median national annual household incomeNot available4,560.96 USD 4,019.74 USD
    National Bureau of Statistics of China
    		A.2.10
    Median urban annual household incomeNot available6,671.59 USD/year6,015.04 USD/year
    National Bureau of Statistics of China
    		A.2.11
    Growth in urban household income (%/year)A.2.13
    Nominal  7.13%
    National Bureau of Statistics of China
    		A.2.13.1
    Real  7.6%
    National Bureau of Statistics of China
    		A.2.13.2
    Employment (% of total laborforce)A.2.14
    Self-employed  18.32%
    National Bureau of Statistics of China
    		A.2.14.1
    UnemployedNot available5.11%5.61%
    IFS
    		A.2.14.3
    Interest Rates:A.2.15
    Central bank lending/discount rate2.9%2.9%2.9%
    IFS
    		A.2.15.1
    Average bank deposit rate1.5%1.5%1.5%
    IFS
    		A.2.15.4
    Lending rate4.35%4.35%4.35%
    IFS
    		A.2.15.5
    B. Housing Market
    B.1 Housing Stock: Production, Transactions
    VariableEnd of 2022End of 2021End of 2020SourcesVar ID
    Number of dwelling units:B.1.1
    Characteristics of housing stock:B.1.3
    Tenure in urban areas (%):B.1.4
    Owner-occupied units  80% of totalB.1.4.1
    Estimated Number of units completed/yearB.1.5
    Formal sector/registered  6,770,598 units
    National Bureau of Statistics of China
    		B.1.5.1
    B.2 Housing Prices and Cost for Urban Areas or Capital City
    VariableEnd of 2022End of 2021End of 2020SourcesVar ID
    Median urban house price in USD:B.2.1
    Median house price to median annual HH income:B.2.2
    Annual average % change in median house prices:B.2.3
    Yearly Rate  5.56%
    National Bureau of Statistics of China
    		B.2.3.1
    M2 construction cost for median quality houseB.2.4

    back to top | Country Data:
    Notes: % Change if average wage
    Notes: % Change uses the index in table 6-16
    Notes: % of total loans in 2010.12
    Notes: % of total loans in 2011.12
    Notes: % of total loans in 2012.12
    Notes: % of total loans in 2013.12
    Notes: % of total loans in 2014.12
    Notes: % of total loans in 2015.12
    Notes: % of total loans in 2016.12
    Notes: % of total loans in 2017.12
    Notes: China allows for a monthly deduction of taxable income based on payments made toward a housing fund.
    Notes: China allows for a monthly deduction of taxable income based on payments made toward a housing fund.
    Notes: China allows for a monthly deduction of taxable income based on payments made toward a housing fund.
    Notes: China allows for a monthly deduction of taxable income based on payments made toward a housing fund.
    Notes: China allows for a monthly deduction of taxable income based on payments made toward a housing fund.
    Notes: China allows for a monthly deduction of taxable income based on payments made toward a housing fund.
    Notes: Employees can borrow directly from their Housing Provident Fund often on more favorable terms than mortgage loans from commercial banks.
    Notes: Employees can apply for loans directly from Housing Provident Funds (consists of employee savings along with employer matched contributions dedicated to housing), which can offer mortgages at lower rates and better terms than compared to commercial banks.
    Notes: Employees can apply for loans directly from Housing Provident Funds (consists of employee savings along with employer matched contributions dedicated to housing), which can offer mortgages at lower rates and better terms than compared to commercial banks.
    Notes: Employees can apply for loans directly from Housing Provident Funds (consists of employee savings along with employer matched contributions dedicated to housing), which can offer mortgages at lower rates and better terms than compared to commercial banks.
    Notes: Employees can apply for loans directly from Housing Provident Funds (consists of employee savings along with employer matched contributions dedicated to housing), which can offer mortgages at lower rates and better terms than compared to commercial banks.
    Notes: Employees can apply for loans directly from Housing Provident Funds (consists of employee savings along with employer matched contributions dedicated to housing), which can offer mortgages at lower rates and better terms than compared to commercial banks.
    Notes: Employees can apply for loans directly from Housing Provident Funds (consists of employee savings along with employer matched contributions dedicated to housing), which can offer mortgages at lower rates and better terms than compared to commercial banks.
    Notes: Employees can apply for loans directly from Housing Provident Funds (consists of employee savings along with employer matched contributions dedicated to housing), which can offer mortgages at lower rates and better terms than compared to commercial banks.
    Notes: Employees can apply for loans directly from Housing Provident Funds (consists of employee savings along with employer matched contributions dedicated to housing), which can offer mortgages at lower rates and better terms than compared to commercial banks.
    Notes: Employees can borrow directly from their Housing Provident Fund often on more favorable terms than mortgage loans from commercial banks.
    Notes: Employees can borrow directly from their Housing Provident Fund often on more favorable terms than mortgage loans from commercial banks.
    Notes: Employees can borrow directly from their Housing Provident Fund often on more favorable terms than mortgage loans from commercial banks.
    Notes: Employees can borrow directly from their Housing Provident Fund often on more favorable terms than mortgage loans from commercial banks.
    Notes: Employees can borrow directly from their Housing Provident Fund often on more favorable terms than mortgage loans from commercial banks.
    Notes: Employees can borrow directly from their Housing Provident Fund often on more favorable terms than mortgage loans from commercial banks.
    Notes: Employees can borrow directly from their Housing Provident Fund often on more favorable terms than mortgage loans from commercial banks.
    Notes: Employees can borrow directly from their Housing Provident Fund often on more favorable terms than mortgage loans from commercial banks.
    Notes: HPF offers lower interest rate mortgage loans to those that contribute to the fund. The government also alters the mortgage interest rate through the PBOC based on the current economic climate, which can act as an interest rate subsidy to households.
    Notes: HPF offers lower interest rate mortgage loans to those that contribute to the fund. The government also alters the mortgage interest rate through the PBOC based on the current economic climate, which can act as an interest rate subsidy to households.
    Notes: HPF offers lower interest rate mortgage loans to those that contribute to the fund. The government also alters the mortgage interest rate through the PBOC based on the current economic climate, which can act as an interest rate subsidy to households.
    Notes: HPF offers lower interest rate mortgage loans to those that contribute to the fund. The government also alters the mortgage interest rate through the PBOC based on the current economic climate, which can act as an interest rate subsidy to households.
    Notes: HPF offers lower interest rate mortgage loans to those that contribute to the fund. The government also alters the mortgage interest rate through the PBOC based on the current economic climate, which can act as an interest rate subsidy to households.
    Notes: HPF offers lower interest rate mortgage loans to those that contribute to the fund. The government also alters the mortgage interest rate through the PBOC based on the current economic climate, which can act as an interest rate subsidy to households.
    Notes: HPF offers lower interest rate mortgage loans to those that contribute to the fund. The government also alters the mortgage interest rate through the PBOC based on the current economic climate, which can act as an interest rate subsidy to households.
    Notes: HPF offers lower interest rate mortgage loans to those that contribute to the fund. The government also alters the mortgage interest rate through the PBOC based on the current economic climate, which can act as an interest rate subsidy to households.
    Notes: HPF offers lower interest rate mortgage loans to those that contribute to the fund. The government also alters the mortgage interest rate through the PBOC based on the current economic climate, which can act as an interest rate subsidy to households.
    Notes: In 2018, the government created an online platform that streamlined transaction, tax, and registration department processes to reduce time needed to transfer title
    Notes: January 2010 - December 2012 LTV was set at 70% for homes under 90 sq. meters.
    Notes: January 2010 - December 2012 LTV was set at 70% for homes under 90 sq. meters.
    Notes: LTV limits are altered by the government of China much more frequently than is typical in other countries. Figures represented here are representative of a general trend of LTV limits and may not capture quarterly or annual changes in LTV limits by the PBC.
    Notes: LTV limits are altered by the government of China much more frequently than is typical in other countries. Figures represented here are representative of a general trend of LTV limits and may not capture quarterly or annual changes in LTV limits by the PBC.
    Notes: LTV limits are altered by the government of China much more frequently than is typical in other countries. Figures represented here are representative of a general trend of LTV limits and may not capture quarterly or annual changes in LTV limits by the PBC.
    Notes: maximum
    Notes: Middle Income Households (Third Quintile)
    Notes: Middle Income Households (Third Quintile)
    Notes: Middle Income Households (Third Quintile)
    Notes: Middle Income Households (Third Quintile)
    Notes: Middle Income Households (Third Quintile)
    Notes: Middle Income Households (Third Quintile)
    Notes: Middle Income Households (Third Quintile)
    Notes: Middle Income Households (Third Quintile)
    Notes: Middle Income Households (Third Quintile)
    Notes: Mortgage laws were "tentative, isolated provisions existing in various parts of different statutes" before the introduction of the New Property Law in 2007--China's first truly consolidated law with a portion dedicated to mortgages.
    Notes: Mortgage laws were "tentative, isolated provisions existing in various parts of different statutes" before the introduction of the New Property Law in 2007--China's first truly consolidated law with a portion dedicated to mortgages.
    Notes: Mortgage laws were "tentative, isolated provisions existing in various parts of different statutes" before the introduction of the New Property Law in 2007--China's first truly consolidated law with a portion dedicated to mortgages.
    Notes: Mortgage laws were "tentative, isolated provisions existing in various parts of different statutes" before the introduction of the New Property Law in 2007--China's first truly consolidated law with a portion dedicated to mortgages.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The "Big Four" banks in China are all state-owned, and they are the largest mortgage lenders in the nation.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The China Banking Regulatory Commission (CBRC) works along with the PBOC to supervise and set regulations on mortgage lending.
    Notes: The government in the past has altered property tax rates and changed mortgage lending rates in order to stimulate the housing finance market. Employers also offer a variety of interest-free loans and other subsidies in order to allow their employees to purchase homes.
    Notes: The government in the past has altered property tax rates and changed mortgage lending rates in order to stimulate the housing finance market. Employers also offer a variety of interest-free loans and other subsidies in order to allow their employees to purchase homes.
    Notes: The government in the past has altered property tax rates and changed mortgage lending rates in order to stimulate the housing finance market. Employers also offer a variety of interest-free loans and other subsidies in order to allow their employees to purchase homes.
    Notes: The government in the past has altered property tax rates and changed mortgage lending rates in order to stimulate the housing finance market. Employers also offer a variety of interest-free loans and other subsidies in order to allow their employees to purchase homes.
    Notes: The government in the past has altered property tax rates and changed mortgage lending rates in order to stimulate the housing finance market. Employers also offer a variety of interest-free loans and other subsidies in order to allow their employees to purchase homes.
    Notes: The government in the past has altered property tax rates and changed mortgage lending rates in order to stimulate the housing finance market. Employers also offer a variety of interest-free loans and other subsidies in order to allow their employees to purchase homes.
    Notes: The government in the past has altered property tax rates and changed mortgage lending rates in order to stimulate the housing finance market. Employers also offer a variety of interest-free loans and other subsidies in order to allow their employees to purchase homes.
    Notes: The government in the past has altered property tax rates and changed mortgage lending rates in order to stimulate the housing finance market. Employers also offer a variety of interest-free loans and other subsidies in order to allow their employees to purchase homes.
    Notes: The government in the past has altered property tax rates and changed mortgage lending rates in order to stimulate the housing finance market. Employers also offer a variety of interest-free loans and other subsidies in order to allow their employees to purchase homes.
    Notes: The government in the past has altered property tax rates and changed mortgage lending rates in order to stimulate the housing finance market. Employers also offer a variety of interest-free loans and other subsidies in order to allow their employees to purchase homes.
    Notes: The government in the past has altered property tax rates and changed mortgage lending rates in order to stimulate the housing finance market. Employers also offer a variety of interest-free loans and other subsidies in order to allow their employees to purchase homes.
    Notes: The People's Bank of China alters the upper and lower interest rate limits of what lenders can offer mortgages at based upon the economic climate at the time.
    Notes: The People's Bank of China alters the upper and lower interest rate limits of what lenders can offer mortgages at based upon the economic climate at the time.
    Notes: The People's Bank of China alters the upper and lower interest rate limits of what lenders can offer mortgages at based upon the economic climate at the time.
    Notes: The People's Bank of China alters the upper and lower interest rate limits of what lenders can offer mortgages at based upon the economic climate at the time.
    Notes: The People's Bank of China alters the upper and lower interest rate limits of what lenders can offer mortgages at based upon the economic climate at the time.
    Notes: The People's Bank of China alters the upper and lower interest rate limits of what lenders can offer mortgages at based upon the economic climate at the time.
    Notes: The People's Bank of China alters the upper and lower interest rate limits of what lenders can offer mortgages at based upon the economic climate at the time.
    Notes: The People's Bank of China alters the upper and lower interest rate limits of what lenders can offer mortgages at based upon the economic climate at the time.
    Notes: The People's Bank of China alters the upper and lower interest rate limits of what lenders can offer mortgages at based upon the economic climate at the time.
    Notes: The People's Bank of China alters the upper and lower interest rate limits of what lenders can offer mortgages at based upon the economic climate at the time.
    Notes: The People's Bank of China alters the upper and lower interest rate limits of what lenders can offer mortgages at based upon the economic climate at the time.
    Notes: The top four mortgage lenders, all commercial banks, grant over half of mortgages.
    Notes: The top four mortgage lenders, all commercial banks, grant over half of mortgages.
    Notes: The top four mortgage lenders, all commercial banks, grant over half of mortgages.
    Notes: These figures do not include outstanding mortgage loan balances for HPF loans.
    Notes: These figures do not include outstanding mortgage loan balances for HPF loans.
    Notes: These figures do not include outstanding mortgage loan balances for HPF loans.
    Notes: These figures do not include outstanding mortgage loan balances for HPF loans.
    Notes: These figures do not include outstanding mortgage loan balances for HPF loans.
    Notes: These figures do not include outstanding mortgage loan balances for HPF loans.
    Notes: These figures do not include outstanding mortgage loan balances for HPF loans.
    Notes: These figures do not include outstanding mortgage loan balances for HPF loans.
    Notes: While very small compared to other funding sources, commercial banks have continued to issue increasing levels of RMBS in the last few years.
    Notes: While very small compared to other funding sources, commercial banks have continued to issue increasing levels of RMBS in the last few years.
    Notes: While very small compared to other funding sources, commercial banks have continued to issue increasing levels of RMBS in the last few years.
    Notes: While very small compared to other funding sources, commercial banks have continued to issue increasing levels of RMBS in the last few years. As of 2015, RMB26 billion outstanding.