Chinese economy stays on course amid choppy waters

China's economic performance remained steady in July amid external uncertainties and domestic challenges, with industrial production continuing to expand, buoyed by strong gains in high-tech and equipment manufacturing, official data showed on Monday.

Figures released by the National Bureau of Statistics showed that the country's industrial output — a gauge of activity in the manufacturing, mining and utilities sectors — rose 4.5 percent year-on-year in July, following a 5.3 percent increase in June.

Notably, equipment and high-tech manufacturing maintained strong growth during the Jan-July period, expanding 9.7 percent and 13.8 percent, respectively, the NBS said.

Retail sales, a key measure of consumer spending, grew 0.6 percent year-on-year in July, compared with a 1 percent rise in June, the data showed.

Fixed-asset investment — a gauge of expenditures on items including infrastructure, property, machinery and equipment — fell 6.7 percent during the Jan-July period from a year earlier. In the first half of the year, it had decreased 5.7 percent, according to the NBS.

The surveyed urban unemployment rate stood at 5.2 percent in July, up from 5 percent in June due mainly to seasonal factors, the bureau said.

The NBS said the data showed China's economy remained generally stable in the first seven months of 2026, with new growth drivers gaining momentum and the economic structure continuing to improve.

Recognizing that the external environment remained complex and volatile and that the imbalance between strong supply and weak demand persisted at home, the bureau called for stronger countercyclical adjustments and greater efforts to expand domestic demand.