China revises preliminary calculation of 2020 GDP

China's gross domestic product (GDP) in 2020 was revised to 101.36 trillion yuan ($15.92 trillion), official data showed Friday.

The amount represents a reduction of 241.9 billion yuan from the preliminary calculation, data from the final verification conducted by the National Bureau of Statistics (NBS) showed.

At constant prices, the 2020 GDP increased 2.2 percent year-on-year, down 0.1 percentage point from the preliminary calculation, according to the NBS.

China's annual GDP goes through two sets of accounting in accordance with the current national economic accounting system. The first is the preliminary calculation of GDP, which will be revised in a final verification based on the annual statistical data, fiscal final accounts and departmental administrative records.