In the first half year, faced with complex and grave international environment as well as arduous tasks to advance reform, development and ensure stability at home, under the strong leadership of the Central Committee of the Communist Party of China (CPC) with Comrade Xi Jinping at its core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, adhered to the general working guideline of making progress while maintaining stability, fully and faithfully applied the new development philosophy on all fronts, accelerated the efforts to ... (full story)

China's economy grew at a frail pace in the second quarter, although the annual figure was flattered by base effects, data showed on Monday, with overall momentum faltering rapidly due to weakening demand at home and abroad. Gross domestic product grew just 0.8 per cent in April-June from the previous quarter, data released by the National Bureau of Statistics showed, versus analysts' expectations in a Reuters poll for a 0.5 per cent increase and compared with a 2.2 per cent expansion in the first quarter. On a year-on-year basis, GDP expanded 6.3 per cent in the second quarter, accelerating from 4.5 per cent in the ... (full story)

China said Monday that second-quarter gross domestic product grew by 6.3% from a year ago, missing expectations. The unemployment rate among young people ages 16 to 24 was 21.3% in June, a new record. The 6.3% GDP print for the second quarter marked a 0.8% pace of growth from the first quarter, slower than the 2.2% quarter-on-quarter pace recorded in the first three months of the year. Analysts polled by Reuters had predicted a 7.3% increase in the second quarter GDP. Retail sales for June rose by 3.1%, a touch below the 3.2% expected. Industrial production for June rose by 4.4% from a year ago, better than the 2.7% ... (full story)

China’s economy grew by 6.3 per cent in the second quarter of 2023, year on year, amid Beijing’s efforts to boost the post-coronavirus pandemic recovery, according to official data released on Monday. The growth was below the 6.8 per cent predicted by Wind, a Chinese data provider, but up from the 4.5 per cent growth seen in the first quarter. {chart} China has set a modest growth target for 2023 at around 5 per cent. In other figures released by the National Bureau of Statistics on Monday, retail sales rose by 3.1 per cent in June from a year ago, down from 12.7 per cent growth in May. This was below the 3.5 per ... (full story)