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China GDP Q2 2026: 4.8% Growth Meets Expectations Amid Property Drag
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@wealthmap
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2026-06-03 09:56:31
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China Q2 2026 GDP grew 4.8% YoY, within the 4.5-5.0% target range. Key breakdown: manufacturing PMI at 51.2 (expansion), services PMI at 50.8, property investment -8.2% YoY (still contracting). Bright spots: (1) EV exports +45% YoY - BYD, SAIC, Geely gaining market share in Europe and ASEAN (2) Solar panel exports +38% (3) AI-related CAPEX by tech giants tripled. Concerns: youth unemployment at 18.2%, deflation risk (CPI +0.3%), local government debt repayment cliff in H2. The July Central Economic Work Conference is expected to announce additional fiscal stimulus of 1-2T yuan.
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