Commentary: Structural Shifts Anchor Chinese H1 Economic Resilience Beyond Q2 Dip

When China reported a 4.3% year-over-year gross domestic product growth rate for the second quarter of 2026 — a near three-year low — markets inevitably braced for a slowdown. Yet zooming out to the entire first half of the year reveals a more resilient picture. The economy expanded by 4.7% over the first six months, tracking closely with the 4.5% to 5% full-year target set at the annual legislative meetings in March.