China says its economy remained resilient in the first half of 2026 despite global uncertainties, with gross domestic product (GDP) expanding 4.7% year-on-year to 69.6 trillion yuan (about $10.25 trillion), according to the National Bureau of Statistics (NBS).
Officials said the performance keeps the country on track to meet its annual growth target of 4.5–5% and provides a strong start to its 15th Five-Year Plan (2026–2030).
“These hard-won achievements have laid a solid foundation for achieving this year’s economic and social development goals and provided a strong start for the 15th Five-Year Plan period (2026-2030),” NBS official Wang Guanhua said.
Authorities noted that the economy added 3.6 trillion yuan in output during the first six months of the year, while the urban unemployment rate eased to 5% in June from 5.1% in May. Per capita disposable income rose 5.2%, industrial output increased 5.4%, and retail sales grew 2.7% year-on-year.
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National Development and Reform Commission official Yang Te attributed the performance to resilient industrial and supply chains and stable energy security.
“By maintaining steady development amid external uncertainties, China has continued to act as both a stabiliser and a key engine of global economic growth, further reinforcing its role as an anchor of global stability,” Yang said.
Officials also highlighted the growing contribution of new industries, with high-end manufacturing, the digital economy and modern services accounting for more than 40% of economic growth in the first half of 2026.
“The transition from old to new growth drivers has become one of the most distinctive features of China’s economy,” Wang said. “It is not limited to breakthroughs in a handful of industries but reflects broad-based upgrading across the economy.”
China produced 279.8 billion integrated circuits in the first six months of the year, while officials projected AI-related industries to expand by more than 30% in 2026.
“The rapid development of emerging industries is not a short-lived windfall but the result of years of sustained efforts to achieve breakthroughs in core technologies, promote full integration of technological and industrial innovation, and foster innovative enterprises,” Wang added.
Xinhua
