The productive locomotive of the planet resists the tariff cannon of US President Donald Trump. The Chinese economy has grown in the second quarter annualized 5.2%, as the National Statistics Office (One) has revealed on Wednesday. The fact, which is slightly above the forecasts of specialized analysts, places the Asian giant, despite global storms, in a favorable position to achieve its, as well as that achieved in 2024.
The effects of commercial war and uncertainty in markets have barely left their mark in recent months, judging by statistics. The increase in GDP in the second quarter, in which the blows and counterattacks of the commercial battle between the first and second economy of the planet have been concentrated, has been two tenth lower than the first quarter, which was 5.4%. In the first six months, growth has been 5.3%.
“The national economy resisted the pressure and was up to the challenge,” he said Tuesday, in an appearance, Sheng Laiyun, deputy director of the One, which has referred to an “complex and changing” international environment, a global economic order that “has suffered a hard blow” and the increase in “instability and uncertainty.”
Given this gloomy panorama, he added, the Chinese economy “has maintained a stable and positive development trend.” Sheng has also referred to the implementation of “more proactive and effective” macroeconomic policies, with which the communist authorities deal with in recent months of resusciting the internal demand lagged by the slowdown of the real estate sector.
The strong growth of exports (which have rebounded 7.2%) and the drop in imports (2.7%decrease) greatly explain the results. They also show a commercial balance imbalance with the rest of the world that continues to deepen.
The situation could further tighten the relationship with the European Union before the summit held in Beijing next week, and the one planned to attend the president of the commission, Ursula von der Leyen, and that of the European Council, António Costa. Brussels is also shaken by Trump’s storm, with the intention of compensating a chronic imbalance with China, and fearful of becoming the destiny of Chinese products that cannot overcome the United States tariff wall.
Internal, in the first half of the year, industrial production has shown robust behavior, growing at 6.4% year -on -year. Retail sales of consumer goods increased by 5%, fueled by a state policy to replace old appliances. Even so, prices have fallen in the first semester by 0.1% year -on -year, a reflection of a “insufficient” internal demand (word used by the aforementioned deputy director of the ONE), which does not end up tracing. El Zarpazo is especially pronounced in industrial production prices, which fell 2.8 % annualized.
Among the indicators, the Chinese commitment to manufactures stands out, with an investment growth of 7.5%, compared to that destined for real estate development, which decreased by 11.2%. The brick remains a toxic sector that spreads the humor of a part of the population. House sales have fallen another 5.5% in the first semester; Even so, housing prices have resisted, growing a meager 0.1% year -on -year.
The commitment to the leading sectors has been especially significant, a reflection of the direction that Beijing seeks to navigate the uncertain future: investment in information services; Aviation and manufacturing of spacecraft, and manufacture of computer and office equipment increased by 37.4%, 26.3% and 21.5% year -on -year, respectively.
The endurance capacity of the great factory on the planet had already been advanced on the eve, with the publication of China’s international trade data. The exports and imports of the Asian giant grew in June 5.2% year -on -year, a reflection of the, of the export drive by many companies before the end of that pause in the tariff contest between the two economic superpowers arrives.
Global exports showed good results in the first semester, thanks to sales for emerging markets from Southeast Asia, Central Asia and Africa. But the dentelladas of the Washington tariff wall are deep. 9.3% year -on -year, and collapsed 20.8% year -on -year in the second quarter. The high point of the battle between the United States and China was the month of April, when both countries reached 145% and 125% respectively, which was equivalent to a de facto embargo.
The data “show that Trump has not yet been able to make a dent in the growth of China,” Alicia García Herrero, Chief Economist for Asia-Pacific of the Natixis Investment Bank, has valued on social networks. “The second half [del año] It will be more uphill but, even so, China could end the year near its 5%goal. ”
