China's resilient economy reinforces global confidence in development

Computers are manufactured in a 5G-enabled smart workshop of a technology company in Huainan, east China's Anhui province. (Photo/Chen Bin)

China recently released its economic data for the first half of 2026, revealing a GDP of 69.57 trillion yuan ($10.27 trillion), up 4.7 percent year-on-year in real terms.

This performance was marked by strong resilience, steady growth, and notable progress in emerging industries such as artificial intelligence and renewable energy. The results have helped the international community recognize the solid fundamentals and great potential of the Chinese economy, boosting global confidence in its development trajectory.

In the first year of the 15th Five-Year Plan period (2026-2030), the Chinese economy has remained within a reasonable range despite mounting challenges and pressures. It has maintained overall stability while continuing to transition toward innovation-driven, higher-quality development.

China's economy has demonstrated remarkable resilience and vitality, generating broader market opportunities and expanding prospects for international cooperation.

During the first half of the year, China's economic expansion reached 3.6 trillion yuan, the largest increase for the same period in the past five years.

With an economy already exceeding 140 trillion yuan in size, China has sustained steady growth amid external uncertainties, including volatility in global energy markets and the restructuring of international industrial and supply chains.

Production and supply expanded at a solid pace, employment remained generally stable, prices rose moderately, and people's livelihoods continued to improve, further underscoring the resilience of the Chinese economy.

The International Monetary Fund (IMF) recently lowered its forecast for global economic growth in 2026 while raising its forecast for China's growth by 0.2 percentage points. The divergence reflects growing international confidence in China's economic outlook and highlights the country's role as a key driver of global growth.

"China is stepping up support for future industries such as AI, hoping to cultivate new sources of economic growth," the German Press Agency dpa recently observed. The performance of China's economy in the first half of the year offers strong evidence of this ongoing momentum.

During the period, the value-added output of high-tech manufacturing enterprises above designated size grew 13.3 percent year on year. AI-related industries, including integrated circuit manufacturing and intelligent in-vehicle equipment manufacturing, maintained growth of more than 30 percent. Emerging growth drivers -- represented by high-end manufacturing, the digital economy, and modern services -- contributed more than 40 percent to overall economic growth, highlighting the continued upgrading and optimization of China's economic structure.

Consumers buy action cameras in a mall in Jinhua, east China's Zhejiang province. (Photo/Shi Bufa)

China has also achieved new breakthroughs in scientific and technological innovation. Multiple commercial space launch vehicles completed successful missions, while steady progress was made in cutting-edge fields including quantum information, integrated circuits, and nuclear fusion. Large AI models continued to improve in capability while expanding into a growing range of practical applications.

China's innovation-driven development remains guided by the principle of openness and shared benefits. As advanced technologies move from research laboratories into real-world industries, they are not only creating new growth momentum for China but also providing new products and solutions for global industrial transformation, fostering closer collaboration across international industrial and supply chains.

Chinese products were highly visible during this year's FIFA World Cup hosted by Canada, Mexico, and the United States. Chinese-made air conditioners, electric fans, and refrigerators helped consumers stay cool throughout the tournament.

In the first half of the year, China's total imports and exports of goods reached 25.47 trillion yuan, up 16.9 percent year on year, further consolidating the country's position as the world's largest trader in goods.

Exports of mechanical and electrical products increased 20.1 percent, while those of high-tech products and Chinese brands rose 39 percent and 25.4 percent, respectively.

Chinese manufacturing is steadily moving from scale expansion to quality upgrading, strengthening global supply chains while providing consumers worldwide with high-quality, cost-effective products.

On the import side, imports of goods totaled 10.74 trillion yuan, up 22.1 percent year on year. As domestic demand continues to expand, China is no longer simply "the world's factory"; it is increasingly becoming a vast global marketplace offering opportunities for businesses around the world.

In May, China introduced zero-tariff treatment on all tariff lines for the 53 African countries with which it has diplomatic relations. As a result, China's imports from Africa increased 23.5 percent year on year during May and June, providing another vivid example of how China's opening up creates benefits that are shared globally and supports common development.

At a time when protectionism and anti-globalization sentiments are gaining ground, China has never slowed its pace of opening up. Instead, it continues to create opportunities for the world through its own development.

Foreign merchants purchase products related to the 2026 FIFA World Cup at the Yiwu International Trade Market in east China's Zhejiang province. (Photo/Shi Bufa)

As the world's second-largest consumer market, largest online retail market, and second-largest import market, China continues to attract global resources through its stable and predictable business environment, complete industrial system, efficient logistics network, and mature industrial support ecosystem.

An increasing number of multinational companies now regard China as an indispensable part of their global strategies, strengthening their presence in the Chinese market while enhancing their international competitiveness.

China's resilient and steadily improving economy is good news not only for the country itself but also for the recovery of the global economy.

With expanding domestic demand, accelerating growth of new quality productive forces, and deeper high-standard opening up, China will continue to serve as an important engine of global economic growth.

Through high-quality and sustainable development, China will continue sharing development opportunities with countries around the world and contribute to stronger, more sustainable, more balanced and more inclusive global economic growth.