BEIJING, May 18, 2026 /PRNewswire/ — China’s National Bureau of Statistics (NBS) released April economic data on Monday, pointing to steady economic momentum in the first four months of the year and continued gains in high-quality development despite external uncertainties.
Chinese analysts said the data suggest that China’s economy has carried forward its stronger-than-expected first-quarter momentum in some areas, with industrial upgrading and structural improvement continuing to support resilience.
In the first four months, value-added industrial output above designated size rose 5.6 percent year-on-year in real terms, meaning the growth rate was calculated after adjusting for price factors, Fu Linghui, spokesperson of the NBS, chief economist and director-general of the Department of Comprehensive Statistics of the NBS, told a press briefing on Monday.
Among major industrial categories, equipment manufacturing and high-tech manufacturing remained key bright spots, rising 8.7 percent and 12.6 percent year-on-year, respectively, both faster than overall industrial output growth.
By product, output of 3D printing equipment surged 50.9 percent, lithium-ion batteries rose 36.0 percent and industrial robots increased 25.7 percent, highlighting what analysts said the continued expansion of advanced manufacturing and the strengthening of new growth drivers.
In April, value-added industrial output above designated size increased 4.1 percent year-on-year, with growth recorded in 29 of the 41 major industrial categories.
The momentum was led by several key sectors: Special-purpose equipment manufacturing grew 6.2 percent, automobile manufacturing rose 9.2 percent, and computer, communication and other electronic equipment manufacturing expanded 15.6 percent, according to NBS data.
“The growth in industrial output above designated size is within expectations and points to steady industrial expansion. For enterprises, this is a solid reading, reflecting the resilience of China’s industrial system and continued momentum of manufacturing upgrading,” Li Changan, an economist at the University of International Business and Economics, told the Global Times on Monday.
On prices, China’s consumer price index (CPI) rose 0.9 percent year-on-year in the first four months, NBS data showed. Prices of other goods and services saw a relatively sharp increase of 13.3 percent. In April, CPI rose 1.2 percent year-on-year, 0.2 percentage points faster than in March.
Li said retail sales have shown signs of recovery, though there is still room for further improvement. “Stronger consumption demand would provide greater support for the broader economy and help make growth more balanced.”
On investment, although fixed-asset investment fell year-on-year, investment in high-tech industries continued to grow at a relatively fast pace.
In the January-April period, fixed-asset investment, excluding rural households, fell 1.6 percent year-on-year, while investment in intellectual property products rose 8.9 percent.
A key bright spot was high-tech industry investment, which grew 6.1 percent, led by a 17.9 percent rise in aviation, spacecraft and equipment manufacturing, a 13.9 percent increase in computer and office equipment manufacturing, and an 18.1 percent gain in information services.
Li said the growing weight of new industries, new business forms and new models is a positive signal of China’s economic restructuring and upgrading, showing that the economy is moving steadily toward high-quality development and gaining stronger capacity to withstand global uncertainty.
Monday’s data also showed expanding market sales and faster growth in service consumption. In the first four months, total retail sales of consumer goods rose 1.9 percent year-on-year, with rural retail sales rising 2.8 percent, faster than the 1.8 percent growth in urban areas.
Service retail remained a bright spot, rising 5.6 percent year-on-year in the first four months, 0.1 percentage points faster than in the January-March period. Retail sales in communication and information services, tourism consulting and rental services, cultural, sports and leisure services, and transportation services all grew relatively fast, according to the NBS.
In this period, China services sector also maintained steady growth, with modern services showing solid momentum. The national services production index rose 4.9 percent year-on-year, while information transmission, software and information technology services grew 10.9 percent.
In April alone, business activity indexes for sectors including railway transportation, postal services, telecommunications, radio, television and satellite transmission services stayed above 55.0 percent, indicating a relatively high level of activity.
Foreign trade also maintained relatively fast growth, with the trade structure continuing to improve and the positive momentum from the first quarter extending into April. In the first four months, total goods imports and exports reached 16.2252 trillion yuan, up 14.9 percent year-on-year. Exports rose 11.3 percent, while imports grew 20.0 percent, NBS data showed.
Among the highlights, trade with Belt and Road partner countries grew 13.5 percent, while imports and exports by private enterprises increased 15.9 percent. Exports of mechanical and electrical products rose 17.6 percent. In April, exports reached 2.4817 trillion yuan, up 9.8 percent, while imports stood at 1.896 trillion yuan, up 20.6 percent.
Fu said the national economy maintained a generally stable and improving trend in the first four months, with high-quality development making solid progress.
At the same time, he cautioned that the external environment remains complex and volatile, while the domestic imbalance between strong supply and relatively weak demand is still pronounced. Some enterprises continue to face operational difficulties, and the foundation for sustained economic improvement needs to be further consolidated.
Going forward, China will implement a more proactive fiscal policy and a moderately accommodative monetary policy in a targeted and effective manner, expand domestic demand and optimize supply, strengthen the economy’s internal growth drivers, further reinforce the domestic economic circulation, improve the interplay between domestic and international circulations, and promote sustained and healthy economic development, Fu told the press briefing.
This article first appeared in the Global Times.
