China's Economy Grows 4.7% in H1 2026 Amid Global Challenges

China's gross domestic product (GDP) grew by 4.7% year-on-year in the first half of 2026, according to official data released on Wednesday. This growth reflects solid foreign trade performance and the emergence of new growth drivers, contributing to the resilience of the Chinese economy.

The International Monetary Fund recently adjusted its forecast for global economic growth to 3% and raised China's full-year growth projection by 0.2 percentage points to 4.6%. The Chinese economy is increasingly driven by innovation and industrial upgrades, with new growth drivers accounting for 40% of economic growth in the first half of the year.

High-tech manufacturing and the digital economy saw significant expansion, with high-tech manufacturing output increasing by 13.3%. Additionally, exports of new energy vehicles and lithium batteries have contributed to global green transition technologies.

China's commitment to high-level openness and technological innovation is expected to provide a solid foundation for sustained growth and stability in the global economy.