{"id":3514,"date":"2026-07-15T22:14:02","date_gmt":"2026-07-15T22:14:02","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=3514"},"modified":"2026-07-15T22:14:02","modified_gmt":"2026-07-15T22:14:02","slug":"chinas-economy-slows-to-weakest-quarterly-growth-in-3-years","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=3514","title":{"rendered":"China\u2019s economy slows to weakest quarterly growth in 3 years"},"content":{"rendered":"
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The official data fell short of forecasts and was far below the economy\u2019s\u00a0strong 5%\u00a0pace of growth in January-March, despite a surge in exports driven partly by the boom in artificial intelligence, and by robust global demand for Chinese\u00a0electric vehicles.<\/p>\n

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China\u00a0has largely shrugged off wider economic impacts from the Iran war as soaring energy prices pushed up global inflation. Exports rose 17.6% in the first half of the year from a year earlier, and\u00a027% in June, according to customs data.<\/p>\n

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But domestic spending and investment have lagged, limiting the boost from export manufacturing for an economy that has struggled to regain momentum since parts of China were locked down during the COVID-19 pandemic.<\/p>\n

\u201cThis was the slowest growth in any quarter since the lockdown-impacted fourth quarter of 2022,\u201d said Lynn Song, chief economist for Greater China at ING Bank in a note.<\/p>\n

Some economists say China\u2019s economy is becoming increasingly unbalanced as heavy state support and private investments pour into frontier\u00a0technologies\u00a0like AI, computer\u00a0chips\u00a0and\u00a0robotics\u00a0while other areas such as lower-value manufacturing and jobs creating services industries languish.<\/p>\n

Exports of\u00a0high-tech products\u00a0such as electric vehicles, computer chips and other electronic equipment have risen sharply, helped by hefty government support since China\u2019s leaders have made development of advanced technologies a top priority.<\/p>\n

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China ran a\u00a0record $1.2 trillion global trade surplus\u00a0last year, drawing complaints from policymakers in other countries over their trade imbalances with the world\u2019s second-largest economy. Many have pointed to those heavy state subsidies, which they say contribute to an oversupply of manufactured goods that end up being exported overseas. Industrial output by value rose 5.4% in the first half of the year from a year earlier.<\/p>\n

As is true in many countries, the expansion of AI and robotics has also raised worries at home over whether businesses will create enough jobs to sustain growth in the longer term.<\/p>\n

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Chinese families have\u00a0cut back\u00a0on big purchases, their appetite for spending constrained by a\u00a0prolonged property slump\u00a0and uncertainties over jobs and wages.<\/p>\n

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As China remains reliant on its exports to sustain overall growth, \u201cChina\u2019s growth model has become increasingly imbalanced,\u201d said Eswar Prasad, a professor of economics and trade policy at Cornell University. Substantially increasing domestic demand will be tough as confidence remains weak, he added.<\/p>\n

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Mao Shengyong, deputy head of China\u2019s National Bureau of Statistics, told reporters that given the increasingly unstable and uncertain global situation, the imbalance between strong supply and weak demand \u201cremains acute\u201d at home.<\/p>\n

As China focuses on high-tech manufacturing and pursues \u201chigher-quality economic growth,\u201d it will work to build a robust domestic market and offer support to keep employment stable, he said.<\/p>\n

Highlighting weaker points in the economy, investment in fixed assets, such as factory equipment, fell 5.7% year-on-year in the first half of the year, while retail sales of consumer goods climbed a meager 1.3%. Housing prices continued to fall.<\/p>\n

China\u2019s economy is going through a \u201csignificant transition,\u201d said Wei Li, Head of Multi-Asset Investments at BNP Paribas Securities (China).<\/p>\n

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For the whole of 2026, Chinese leaders have set a\u00a0growth target of 4.5% to 5%, slower than last year\u2019s 5%. Overall economic growth for the first half of the year was at 4.7%, the data released Wednesday showed.<\/p>\n

The International Monetary Fund recently\u00a0raised its forecast\u00a0for China\u2019s annual growth by 0.2 percentage point to 4.6%. It expects China\u2019s economy to expand just 4.1% in 2027.<\/p>\n

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\u201cThis was the slowest growth in any quarter since the lockdown-impacted fourth quarter of 2022,\u201d said ING’s Lynn Song, chief economist for Greater China.<\/p>\n","protected":false},"author":1,"featured_media":3513,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[114],"tags":[],"class_list":["post-3514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-china"],"yoast_head":"\nChina\u2019s economy slows to weakest quarterly growth in 3 years - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=3514\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s economy slows to weakest quarterly growth in 3 years - 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