Economy · July 2026

In the first half of 2026, China's economy grew by just 4.7%, its weakest pace in three years and below the official target, despite a boom in exports. Refinery runs dropped to pandemic-era lows and crude imports collapsed, while new loans also fell short of forecasts, signaling weaker domestic demand and credit expansion. Several outlets described the slowdown as one of the lowest growth rates in decades. Apple received regulatory approval to launch its Apple Intelligence AI service in China, partnering with Alibaba's Qwen AI and Baidu to meet local data and content regulations. Chipmaker CXMT seeks $10 billion in what would be China's largest IPO since 2010. China's DeepSeek plans to raise fresh capital at a $74 billion valuation ahead of an onshore IPO, sources said. German machine builders demanded better protection from what they called unfair Chinese competition.