China's GDP Surges 5.0% in Q1 2026

China's economy picked up pace after a slower Q4 2025. In Q1 2026, GDP reached 33,419.3 billion yuan, up 5.0% year on year, 0.5 percentage points faster than Q4, and 1.3% quarter on quarter. Industrial output at major enterprises rose 6.1%, high-tech manufacturing surged 12.5%, equipment manufacturing gained 8.9%, and the services sector grew 5.2%. First two-month industrial profits hit 1,024.6 billion yuan, up 15.2%. Trade surged 15.0% to 11,838.0 billion yuan; exports rose 11.9% to 6,846.7 billion yuan, while imports jumped 19.6% to 4,991.3 billion yuan. Total retail sales reached 12,769.5 billion yuan, up 2.4%, with online sales rising 8.0% to 4,977.4 billion yuan. The urban unemployment rate held at 5.3%, and per capita household income grew 4.9% to 12,782 yuan, or 4.0% in real terms.