China's Economy Grows 4.7% in First Half of 2026

In the first half of 2026, China's economy grew by 4.7 percent year on year, reaching a gross domestic product (GDP) of 69.6 trillion yuan (approximately 10.25 trillion U.S. dollars), according to the National Bureau of Statistics (NBS). Wang Guanhua, an NBS official, stated that these achievements provide a solid foundation for the 15th Five-Year Plan period (2026-2030).

Despite external uncertainties, this growth aligns with the annual target of around 4.5 to 5 percent, positioning China among the fastest-growing major economies globally. Yang Te, an official with the National Development and Reform Commission, noted that the growth rate added 3.6 trillion yuan in economic output in the first half of 2026.

The urban unemployment rate decreased to 5 percent in June, and per capita disposable income rose by 5.2 percent year on year. Additionally, value-added industrial output increased by 5.4 percent, while total retail sales of goods and services grew by 2.7 percent year on year.

Yang emphasized the economy's strength is supported by resilient industrial and supply chains and strong energy security.