The financial services Gross Value Added (GVA) in China has shown a consistent upward trend from 2013 to 2023, standing at 9.0958 trillion Yuan Renminbi in 2023. Over the past decade, the year-on-year growth has demonstrated a gradual slowdown from the high double digits in the early 2010s to around 4% in the last two years. The Compound Annual Growth Rate (CAGR) has also decreased from 17.62% in 2013 to 5.19% by 2023, indicating a maturing sector.
Future trends to watch for:
- Continuous, albeit slower, growth with a forecasted 5-year CAGR of 2.71% from 2024 to 2028.
- Increased digitalization and fintech development driving efficiency and inclusivity.
- Regulatory changes aimed at stabilizing and reforming the financial sector.
- Potential impacts from global economic conditions and trade relations on the financial services industry.
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