China’s economy gains momentum on stronger growth drivers

Mettis Global reported that China's economy has held a broadly steady course since January, with new growth drivers gaining pace and major risks kept in check. The assessment credited authorities, working under the leadership of Xi Jinping, with addressing outside pressures and internal difficulties while pursuing high-quality development. During the opening half of 2026, gross domestic product grew 4.7%, which kept China among the faster-growing large economies.

Value added in equipment manufacturing rose 9.3% in the first six months, while high-tech manufacturing grew 13.3%. Earnings of industrial firms above the designated scale climbed 18.7%, and general public budget revenue increased 4.7%. The report also pointed to progress in chip technology, new drugs and reusable rocket recovery, alongside wider use of robotics and artificial intelligence.

The property market has shown firmer signs of stabilization since early 2026, with second-hand home sales picking up in several major cities. Authorities are also working through hidden local liabilities in a methodical way and cutting the number of local government financing platforms. Reforms targeting smaller and mid-sized lenders have reduced the number of high-risk institutions, and major projects under the 15th Five-Year Plan are expected to support activity in the second half.