China's economy recorded an annual gross domestic product (GDP) growth of 5 % in the first quarter of 2026, equivalent to a value of 33.42 trillion yuan (approximately $4.9 trillion). This is according to data from China's National Bureau of Statistics (NBS). According to the statisticians, the results show the strengthening of the stability, resilience and dynamism of the Chinese economy.
Both manufacturing and industry showed solid growth. The value added of industrial enterprises above a given size increased by 6.1 %, 1.1 percentage points higher than in the fourth quarter of last year. The key sectors of the future economy grew the fastest, with equipment manufacturing growing by 8.9 % and high-tech industry even growing by 12.5 %.
Positive developments continued in consumption. Retail sales reached 12.77 trillion yuan and increased by 2.4 % year-on-year. Thus, the growth rate accelerated from the previous quarter.
Fixed asset investment increased by 1.7 % to 10.27 trillion yuan, reversing the previous year's decline. Foreign trade saw a strong recovery, with total imports and exports rising by 15 % to 11.84 trillion yuan.
The labour market also remained stable. The average urban unemployment rate reached 5.3 %, the same level as in the same period last year.
According to the National Bureau of Statistics, production and supply accelerated in the first quarter, market demand continued to grow and employment remained stable overall. Prices developed moderately and high-quality growth continued to develop. The economy thus entered the year on a relatively solid footing with strengthening resilience and new dynamism.
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