China: Gross fixed capital formation (% of GDP)

Key figures

What the numbers say

In 2024, China's gross fixed capital formation (% of GDP) fell 0.8 percentage points on 2023 (from 40.45% to 39.65%).

Across the 30 yearly changes before that (1994 to 2023), the average change was +0.1 percentage points and a typical year strayed about 1.43 percentage points from that (the standard deviation). This year's change was 0.6 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 6.69 percentage points in 1993 and the biggest yearly fall was 13.62 percentage points in 1961. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is downward, about 0.16 percentage points a year. A straight line explains 36% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, China had the 2nd highest value of the 38 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to China in the 2024 ranking

• Bhutan — 1st of 38: 42.15%
• Palau — 3rd of 38: 35.84%
• Maldives — 4th of 38: 34.84%
• Kosovo — 5th of 38: 31.65%

What this measures

Gross fixed capital formation includes acquisitions less disposals of fixed assets during the accounting period, including certain specified expenditures on services that add to the value of non-produced assets. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 65 values

Gross fixed capital formation (% of GDP) in nearby economies

• Australia — 24.33% (2025)
• Brunei Darussalam — 26.91% (2025)
• Cambodia — 30.91% (2025)
• Fiji — 20.09% (2024)
• French Polynesia — 21.91% (2024)
• Hong Kong SAR, China — 16.94% (2025)
• Indonesia — 28.77% (2025)
• Japan — 27.81% (2024)
• Kiribati — 29.04% (2024)
• Korea, Rep. — 28.33% (2025)

More economic policy & debt data for China

• Exports of goods and services (current US$) — US$4.11 trillion (2025)
• Exports of goods and services (current LCU) — 29.54 trillion (2025)
• Exports of goods and services (% of GDP) — 21.07% (2025)
• Imports of goods and services (current US$) — US$3.29 trillion (2025)
• Imports of goods and services (current LCU) — 23.67 trillion (2025)
• Imports of goods and services (% of GDP) — 16.89% (2025)
• External balance on goods and services (current US$) — US$816.19 billion (2025)
• External balance on goods and services (current LCU) — 5.87 trillion (2025)
• External balance on goods and services (% of GDP) — 4.19% (2025)

Reading data like this

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Questions people ask

What is China's gross fixed capital formation (% of GDP)?

39.65% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1960?

It is up 7.08 percentage points from 32.58% in 1960. The highest value was 44.08% in 2013 and the lowest 15.45% in 1962.

How does China rank?

2nd highest of 38 economies with data for 2024.

Is the latest change in gross fixed capital formation (% of GDP) unusual for China?

In 2024, China's gross fixed capital formation (% of GDP) fell 0.8 percentage points on 2023 (from 40.45% to 39.65%). Across the 30 yearly changes before that (1994 to 2023), the average change was +0.1 percentage points and a typical year strayed about 1.43 percentage points from that (the standard deviation). This year's change was 0.6 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NE.GDI.FTOT.ZS, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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