China's H1 GDP Grows 4.7% as Politburo Pushes New-Driver Shift

The Political Bureau of the CPC Central Committee recently held a meeting to plan work for the second half of the year, proposing to accelerate the transition between old and new growth drivers. In the first half of 2026, China's gross domestic product grew 4.7% year on year, with the economy running generally steady and major indicators staying within a reasonable range. According to preliminary calculations by the National Bureau of Statistics, new growth drivers—represented by high-end manufacturing, the digital economy, and modern services—contributed over 40% to economic growth in the first half.