China’s economy continued to show resilience in the first half of 2026 despite global uncertainty caused by geopolitical tensions, trade disputes and slowing growth, reinforcing its role as a stabilising force in the world economy.
Official data released on Wednesday showed China’s gross domestic product (GDP) grew 4.7 percent year-on-year in the first half of 2026, with strong foreign trade, expanding new growth drivers and steady economic performance. The International Monetary Fund also raised its 2026 China growth forecast by 0.2 percentage points to 4.6 percent while cutting its global growth outlook to 3 percent.
Innovation and industrial upgrading remained key drivers of growth, contributing more than 40 percent of economic expansion during the period. High-tech manufacturing output rose 13.3 percent, while imports and exports of computing hardware surged 56.6 percent to 5.13 trillion yuan. AI-powered products, green technologies and high-end equipment also recorded robust export growth.
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China’s exports of new energy vehicles, photovoltaic products and lithium batteries continued to support the global transition to clean energy by helping reduce the cost of green technologies worldwide.
Domestic demand also strengthened, with total retail sales of goods and services rising 2.7 percent year-on-year. China retained its position as the world’s second-largest import market for the 17th consecutive year, while imports increased 22.1 percent to 10.74 trillion yuan in the first half, outpacing export growth.
The expanding Chinese market has continued to support global supply chain diversification and international trade. Despite ongoing global economic challenges, China’s focus on high-quality development, technological innovation and high-level opening-up is expected to sustain growth and strengthen its role as a reliable contributor to global economic stability and shared prosperity.
Xinhua
