Chinese economy ‘gets off to a good start,’ as major indicators outpace market expectations in first 2 months of 2026

Robots perform welding operations at the BAIC New Energy Super Factory in Beijing on December 12, 2025. Photo: VCG

China"s major economic indicators have outpaced broad market expectations by gaining new momentum in the first two months of 2026, the latest data from the National Bureau of Statistic (NBS) showed on Monday, which indicates that the world"s second largest economy has got off to a relatively strong start this year.

In January-February period, the total value-added of industrial enterprises above the government"s designated size grew 6.3 percent year-on-year, 1.1 percentage points faster than December. Meanwhile, retail sales of consumer goods reached 8.6 trillion yuan in the first two months, up 2.8 percent year-on-year, 1.9 percentage points faster than December, the NBS said.

And, total fixed-asset investment jumped by 1.8 percent year-on-year to reach 5.272 trillion yuan in the first two months, while that of the previous year was down by 3.8 percent, NBS data showed.

During January-February period, the urban surveyed unemployment rate averaged 5.3 percent, the same as the same period last year, NBS data showed.

"The national economy has got off to a good start with notable recovery of the main economic indicators in January and February," Fu Linghui, spokesperson and chief economist of the NBS, said at a press briefing held by the State Council Information Office on Monday. He also took note of certain downward pressures, including the evolving external environment, rising geopolitical risks, as well as some lingering problems and challenges at home.

Chinese government has set a target to achieve an annual GDP growth of between 4.5 to 5 percent in 2026 and vowed to strive for better results in practice, according to the Government Work Report delivered to the National People"s Congress in early March. The report has also set other goals, including a surveyed urban unemployment rate of around 5.5 percent, and creating over 12 million new urban jobs.