China’s gross domestic product (GDP) grew 4.7 percent year on year in the first half of 2026, data from the National Bureau of Statistics (NBS) showed Wednesday.
The world’s second-largest economy generated around 69.57 trillion yuan (about 10.25 trillion U.S. dollars) in output during the period, the data showed. In the second quarter, the country’s economy expanded 4.3 percent year on year.
The Chinese economy has “operated within an appropriate range against pressure,” continuing to demonstrate strong resilience, the NBS said in a statement, pointing to bright spots such as robust growth in production and supply, stable employment and rapid expansion in new growth drivers.
China’s GDP grew 5 percent year on year in the first quarter. The country has targeted 2026 growth at 4.5 to 5 percent and will strive for better in practice.
“The growth pace is in line with the annual target,” Mao Shengyong, deputy head of the NBS, told a press conference, stressing that although growth moderated in the second quarter, the economy has remained on a stable footing, with its underlying trend toward innovation-driven and high-quality development unchanged.
Noting that the external environment has become more complex and uncertain, Mao said China’s economic resilience has helped the country effectively navigate risks and challenges, citing adequate energy supply, mild inflation and solid foreign trade performance in the first half.
Mao also highlighted improvements in China’s growth quality. NBS data showed that new growth drivers, represented by high-end manufacturing, the digital economy and modern services, contributed over 40 percent to economic expansion in the first half, while energy consumption per unit of GDP declined 1.9 percent year on year.
Wednesday’s data also showed that China’s surveyed urban unemployment rate stood at 5 percent in June, down from 5.1 percent in the previous month, while per capita disposable income went up 5.2 percent year on year in the first half.
In the January-June period, the country’s value-added industrial output rose 5.4 percent year on year, and its total retail sales of goods and services, a major indicator of the country’s consumption strength, increased by 2.7 percent year on year. (Xinhua/GSF)
