China's economic recovery showed renewed momentum as the National Bureau of Statistics revealed a 5.8% year-on-year GDP growth for the first quarter of 2026 during Thursday's State Council Information Office briefing. Deputy Commissioner Mao Shengyong presented key indicators demonstrating resilience in industrial output and domestic consumption despite ongoing global economic headwinds.
The manufacturing sector grew 6.3% year-on-year, driven by advanced technology industries and green energy equipment production. Retail sales rose 7.1%, marking the strongest post-Lunar New Year consumption surge since 2023. Mao highlighted stable employment figures with 3.2 million new urban jobs created, while acknowledging challenges in property market adjustments and export demand fluctuations.
Notable developments include a 22% increase in NEV production and a 15% expansion in renewable energy infrastructure investment. Overseas investors from Hong Kong and Taiwan region contributed to 18% of the $82 billion in committed foreign capital, particularly in semiconductor and AI development zones across the Yangtze River Delta.
When asked about cross-strait economic cooperation, Mao emphasized: "Economic integration across the Taiwan Strait remains crucial for regional stability. We welcome Taiwan compatriots to participate in the mainland's digital transformation initiatives." The briefing concluded with announcements of new measures to support small and medium enterprises through targeted tax incentives.
