China Posts 4.7% First-Half GDP Growth, Keeping 2026 Target Within Reach
Updated
Updated · Global Times · Aug 23
China Posts 4.7% First-Half GDP Growth, Keeping 2026 Target Within Reach
3 articles · Updated · Global Times · Aug 23
Summary
China said first-half 2026 GDP rose 4.7% year on year, within its 4.5%-5% annual target range and presented as a solid start to the 2026-30 five-year plan.
More than 40% of growth came directly from new drivers, with AI-related patent authorizations up 34.8%, clean energy reaching 36.2% of industrial power generation, and lithium battery output jumping 39.3%.
Domestic demand still showed mixed momentum: per capita disposable income rose 5.2% nominally, service retail sales gained 5.3%, and new-energy vehicles reached a 54.1% cumulative retail penetration rate.
Beijing said the economy withstood geopolitical conflict, trade frictions and weak demand, while local government debt and other financial risks were eased in an orderly way despite pressure on investment.
Officials argued policy space remains ample because China has avoided heavy debt-fueled stimulus, leaving room for further counter-cyclical support to meet full-year economic goals.