China's gross domestic product (GDP) grew 4.7 percent year-on-year in the first half of 2026, data from the National Bureau of Statistics (NBS) showed on Wednesday.

The world's second-largest economy generated around 69.57 trillion yuan (US$10.25 trillion) in output during the period, the data showed.

Value-added industrial output increased by 5.4 percent year-on-year in the first half of 2026. Total retail sales of goods and services, a major indicator of the country's consumption strength, increased by 2.7 percent year-on-year and fixed-asset investment dropped 5.7 percent during the same period.

In the second quarter, the country's economy expanded 4.3 percent year-on-year after recording a five-percent growth in the first three months of this year.

An NBS deputy head, Mao Shenyong, said growth in the first half laid a good foundation for achieving the full-year growth target, and the slowdown in growth in the second quarter was due mainly to short-term and external factors.

Mao also added that the property market is showing some positive changes and consumer prices are expected to maintain a modest upward trend despite the impact from global commodity prices.

Beijing has set a GDP growth target range of 4.5 to five percent for the whole of 2026. (Agencies)


Edited by Aaron Tam