China's GDP expands 4.7% in H1

China's economy expanded 4.7 percent year-on-year in the first half of 2026, the National Bureau of Statistics said on Wednesday, in a sign of its resilience amid mounting external headwinds.

In the second quarter, the economy grew 4.3 percent from a year earlier, following 5 percent growth in the first quarter.

According to the NBS, China's GDP reached 69.57 trillion yuan ($10.28 trillion) in the first half, while on a quarter-on-quarter basis, GDP expanded by 0.9 percent in the second quarter.

The bureau noted that the economy withstood pressure and operated within a reasonable range in the first half, with new quality productive forces gaining momentum.

However, the external environment is becoming more complex and volatile, while the imbalance between strong supply and weak demand is still acute, the NBS said, calling for more proactive and effective macro policies in the second half of the year.

The country's industrial output expanded by 5.4 percent year-on-year in the first half, official data showed. In June, industrial output grew by 5.3 percent, accelerating by 0.8 percentage points from May.

Retail sales increased by 1.3 percent year-on-year in the first half. In June, they rose by 1 percent, reversing a 0.6 percent decline in May, the data showed.

Fixed-asset investment declined by 5.7 percent year-on-year in the first half, according to the NBS.

The surveyed urban unemployment rate averaged 5.2 percent in the first half. In June, the rate stood at 5 percent, down 0.1 percentage point from May, according to the NBS.