China on track for GDP target despite Q2 slowdown

China's GDP grew 4.7% year on year in the first half of 2026.

Mao Shengyong, deputy head of the National Bureau of Statistics, said the 4.3% GDP growth in the second quarter was affected by short-term factors and external headwinds. Despite those challenges, he noted that China's economy added 3.6 trillion yuan (about $500 billion) in output in the first half of the year, marking the largest increase for the same period in the past five years.

Mao added that China's economic fundamentals remain solid and expressed confidence that the country will achieve its full-year growth target of around 4.5 to 5%.

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