China: China's economy expands 4.7 pct in first half of 2026.

Storyline China's economy expands 4.7 pct in first half of 2026 China’s National Bureau of Statistics released the country's first-half economic data on Wednesday. It finds that the GDP expanded 4.7 percent year on year, with one economist saying the data suggest a promising second half. Wang Rui, Head, Northeast Asia Research, Macro Forecasting & Analysis, Oxford Economics: "If we consider the unexpected shock coming from the Middle East conflict, actually a lot of Asian economies were suffering with the terms of trade shock, as well as rising inflation. But if we look at China's GDP growth, in general, we do see quite a few resilient segments in the economy." Industrial output rose 5.4 percent year on year. Retail sales of consumer goods and services increased 2.7 percent. Goods trade climbed nearly 17 percent. Fixed-asset investment, however, fell 5.7 percent. Wang Rui, Head, Northeast Asia Research, Macro Forecasting & Analysis, Oxford Economics: "There are some resilient parts, for example, exports which registered double digit growth for the first half of this year. But if you look at domestic demand, now matter if you look at the monthly retail sales or fixed asset investment, they are not showing very strong momentum. And on the other hand, we do have very strong industrial production numbers for high-tech manufacturing." Although economic performance for the second half is promising, Wang believes there are still area policy makers should work on. Wang Rui, Head, Northeast Asia Research, Macro Forecasting & Analysis, Oxford Economics: "The first is how to address the domestic challenges, especially how to further revive private consumption. So externally, in the second half, don't forget that tariff risks are not going away. The US tariffs. Yes, we do have the section 122 tariffs are going to expire, but the US government is likely to replace it with section 301. And also, China-EU trade negotiations is going on as well." China’s National Bureau of Statistics said that amid a complex global environment, many countries were facing pressure on economic growth in the second quarter. Against this backdrop, China’s economic performance so far shows that it is on the right track. [Restrictions: No access Chinese mainland]