Pedestrians within the Huaqiangbei electronics market space in Shenzhen, China, on Wednesday, Jan. 14, 2026.
Qilai Shen | Bloomberg | Getty Photos
China’s financial development slowed to its weakest tempo in practically three years within the fourth quarter as home demand softened, although full-year development matched Beijing’s goal regardless of rising commerce frictions with the U.S. and a protracted actual property stoop.
Gross home product grew 4.5% within the October-to-December interval, information from the Nationwide Statistics Bureau confirmed Monday. That marked a slowdown from 4.8% within the third quarter and was the weakest studying for the reason that first quarter of 2023, when development additionally got here in at 4.5%.
Full-year financial output got here in at 5%, assembly the official goal of round 5%.
Separate December information confirmed home consumption weakened and the funding decline steepened, whereas manufacturing improved.
Retail gross sales, a key gauge of consumption, grew 0.9% in December from a 12 months earlier, lacking economists’ forecast for 1.2% development and slowing from 1.3% within the prior month.
Industrial output climbed 5.2% in December, topping expectations for a 5% development and up from 4.8% within the earlier month.
Mounted-asset funding, which incorporates actual property, contracted 3.8% final 12 months, worse than economists’ forecast for a 3% drop in a Reuters ballot.
The city unemployment charge remained unchanged at 5.1% in December.
The world’s second-largest financial system has proven resilience in 2025, largely helped by lower-than-expected tariff charges and exporters’ push to diversify away from the U.S., permitting its policymakers to carry off on launching large-scale stimulus.
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