Published on: 2026-08-09
Source: People’s Republic of China — Translation
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Beijing, August 9 /Xinhua/ — China’s economy in July 2026 showed steady improvement across a number of sectors. There was consistent growth in offline consumption volume and optimization of investment structure, while innovative activities maintained a high momentum, according to high-frequency data released on Saturday by the State Information Center (SIC) under the National Development and Reform Commission of China.
In July, the volume of payments for goods purchased in offline stores increased by 2.2% compared to the same period last year, which is 0.8 percentage points higher than the previous month. The volume of payments for household appliances and audiovisual equipment grew by 8.5%. At the same time, the growth rate of this indicator increased by 10.9 percentage points compared to June.
“The most encouraging change in the consumption sector in July was that the recovery became more widespread,” noted research fellow Xin Yuguan from the GIIS. According to him, the steady growth of offline consumption volume, the recovery of demand for durable goods, and active summer tourism contributed to the growth of consumption in major shopping areas, street stalls, and stores in residential neighborhoods.
In July, investments in advanced manufacturing increased by 73.1% year-on-year, which is 42.5 percentage points higher than the June figure. The value of contracts signed under projects related to new infrastructure, including computing power, data, and networks, grew by 0.8% year-on-year.
Xin Yuquan noted that the ongoing optimization of the investment structure and the active influx of market capital into sectors related to new quality productive forces reflect the market’s confidence in the prospects of industrial modernization.
The index reflecting manufacturing activity in industrial parks increased by 1.0% year-on-year in July, indicating overall stable operation. Activity indices in sectors such as semiconductors, new materials, and digital intelligence rose by 11.6%, 8.9%, and 4.8%, respectively.
The number of patents issued related to emerging industries of strategic significance increased by 10.7 percent compared to the same period last year. At the same time, the number of patents in the field of artificial intelligence grew by 60 percent. The growth rate of this indicator was 21.7 percentage points higher than in June.
Xin Yuguan noted that data on industrial activity indicate that enterprises operating in the fields of semiconductors, new materials, and digital intelligence maintain a high momentum, and innovations in artificial intelligence are developing rapidly, providing a strong impetus for the transition from old growth drivers to new ones in the industry, Xin Yuguan shared.
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