{"id":21136,"date":"2026-07-30T08:09:52","date_gmt":"2026-07-30T02:24:52","guid":{"rendered":"https:\/\/eng.dragonmedia.com.np\/?p=21136"},"modified":"2026-07-30T08:09:52","modified_gmt":"2026-07-30T02:24:52","slug":"chinas-economy-expands-4-7-percent-in-first-half-powered-by-new-growth-drivers","status":"publish","type":"post","link":"https:\/\/eng.dragonmedia.com.np\/?p=21136","title":{"rendered":"China\u2019s Economy Expands 4.7 Percent in First Half, Powered by New Growth Drivers<\/strong>"},"content":{"rendered":"

Dragon Media News Desk<\/strong><\/p>\n

China\u2019s economy expanded by 4.7 percent in the first half of 2026 despite growing uncertainties in the external environment. Chinese officials said the rising contribution of high-end manufacturing, the digital economy and modern services had given the world\u2019s second-largest economy a strong start to a new five-year development period.<\/p>\n

According to China\u2019s National Bureau of Statistics, the country\u2019s gross domestic product reached 69.57 trillion yuan, equivalent to approximately $10.25 trillion, between January and June. The economy grew by 5 percent in the first quarter and 4.3 percent in the second quarter.<\/p>\n

Speaking during the \u201cChina Economic Roundtable,\u201d an all-media programme hosted by Xinhua News Agency, National Bureau of Statistics official Wang Guanhua said the progress achieved under challenging conditions had laid a solid foundation for meeting the country\u2019s annual economic and social development targets.<\/p>\n

He said the performance had also provided a strong beginning for the 15th Five-Year Plan period covering 2026 to 2030.<\/p>\n

Yang Te, an official with the National Development and Reform Commission, said the first-half growth rate was consistent with China\u2019s annual target of approximately 4.5 to 5 percent.<\/p>\n

The 4.7 percent expansion generated around 3.6 trillion yuan in additional economic output during the six-month period, he said.<\/p>\n

According to the National Bureau of Statistics, the surveyed urban unemployment rate fell from 5.1 percent in May to 5 percent in June. Per capita disposable income increased by 5.2 percent year on year to 22,981 yuan in the first half.<\/p>\n

During the same period, value-added industrial output among major enterprises rose by 5.4 percent. Equipment manufacturing expanded by 9.3 percent, while high-technology manufacturing grew by 13.3 percent. Total retail sales of goods and services increased by 2.7 percent.<\/p>\n

Chinese officials identified the resilience of the country\u2019s industrial and supply chains, together with strong energy security, as major foundations of economic stability.<\/p>\n

Yang said China had maintained industrial operations and protected people\u2019s daily lives by strengthening energy supply guarantees and stabilising prices at a time of disruptions in global energy markets.<\/p>\n

New growth drivers represented by high-end manufacturing, the digital economy and modern services contributed more than 40 percent of China\u2019s economic growth during the first half of the year.<\/p>\n

The country produced 279.8 billion integrated circuits during the period, equivalent to an average daily output of more than 1.5 billion chips.<\/p>\n

Huang Hanquan, head of the Chinese Academy of Macroeconomic Research under the National Development and Reform Commission, said China had joined the world\u2019s leading group in artificial intelligence innovation.<\/p>\n

He predicted that AI-related industries would expand by more than 30 percent in 2026, providing fresh momentum for economic growth.<\/p>\n

China\u2019s 15th Five-Year Plan outline, unveiled in March, prioritises the modernisation of the industrial system, closer integration of technological and industrial innovation, and the development of new quality productive forces.<\/p>\n

Chinese officials said the rapid expansion of emerging industries was not a temporary development but the result of sustained investment in core technologies, innovative enterprises and long-term industrial transformation.<\/p>\n

They said the continued rise of new growth drivers was becoming an increasingly important foundation for maintaining the stability of China\u2019s economy amid a complex global environment.<\/p>\n

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