Nation's economy expands 4.7pc in H1

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