China’s economy expanded at its slowest pace since the Covid lockdown era last quarter, and the number landed below what even cautious analysts were expecting.
The National Bureau of Statistics reported Q2 2026 GDP growth of 4.3% year-on-year on July 15. That misses the analyst consensus of around 4.5%, and it sits below Beijing’s own official target range of 4.5% to 5% for the full year.
For context, Q1 2026 came in at 5.0% growth.
What the numbers actually say
The first half of 2026 combined for aggregate growth of 4.7%, which still technically keeps the annual target within reach.
