In 2003 there were around 1,596 pandas living in the wild, but according to the latest count there are now 1,864.
Nearly three quarters of the pandas live in China's south-western province of Sichuan.
The number of giant pandas in captivity has grown too - almost 200 more now than there were back in 2003.
Ginette Hemley, from animal charity World Wildlife Fund, says it's great news: "The rise in the population of wild giant pandas is a victory for conservation and definitely one to celebrate.''
But the latest count says the main threat to the panda numbers is the building of roads and power stations. Over 300 hydropower stations and 800 miles of roads have been built in areas where giant pandas live.

The so-called Immortal Regiment procession sees people carrying flowers and portraits of loved-ones.
It followed Russia's annual Victory Day parade, which marks the anniversary of the Soviet victory over Nazi Germany in World War Two.

Jason Roy hit 59 and Alex Hales 40, putting on 92 for the first wicket inside seven overs in Abu Dhabi.
Although the tourists faltered as they posted 174-6, the UAE managed only 95-9 in reply, with off-spinner Moeen Ali taking 4-11 and Chris Jordan 2-14.
The first T20 of the three-match series is in Dubai on Thursday at 16:00 GMT.
Eoin Morgan's side are building towards the World Twenty20 in India, which starts in March 2016.
Pakistan won the Test series 2-0 before England took the one-day series 3-1.

Swansea Community Farm in Fforestfach offers free access to a variety of rare breeds including sheep and bees, a healthy eating kitchen and café, and sustainable orchards.
Organisers say their core Volunteer and Child and Youth programmes have some funding from external sources beyond March 2017.
But day-to-day running costs do not.
Founded in 1998, the farm has been an accredited Agored Cymru training centre since 2012.
It has also delivered a range of courses in cooking skills and healthy eating, food growing, nature conservation skills and animal care.
Phil Budd of Swansea Community Farm said the farm had fallen foul of austerity.
"Everyone we speak to agrees that the farm is doing vital work in reconnecting under-privileged urban youngsters with where their food comes from, but when local authorities and the Welsh Government have to choose between us and, say a hospital, it's hardly surprising we are where we are now," he said.
"All the available grants are for specific projects, but it's extremely difficult to get funding for the day-to-day nitty-gritty."
It is hoped £25,000 can be secured from a crowd-funding campaign, and the same amount via grants, government and business.
Organisers say that would secure its future for six months, while they look for a longer-term partnership.
"It's terribly sad, at what should be our busiest time of the year, we're already having to keep one eye on the prospect that we won't be here this time next month," Mr Buss said.
"Many of our sheep should be going into lambing shortly, so we've already had to start re-homing them, as we don't want to have to move them while they are delivering and suckling.
"Hopefully we can welcome them back in the summer, but we all need to pull together and find new ways of working."
Good news for giant pandas - the number living in the wild in China has gone up over the last 10 years.
[NEXT_CONCEPT]
Tens of thousands of people have marched in Moscow and cities around the world to remember relatives who took part in World War Two.
[NEXT_CONCEPT]
England eased to a 79-run win over the United Arab Emirates in their only warm-up game before the Twenty20 series against Pakistan.
[NEXT_CONCEPT]
Swansea's only community city farm is facing closure at the end of the month, unless it can raise £50,000.