China’s economy slowed less than expected in the second quarter in a show of resilience against U.S. tariffs, though analysts warn that weak demand at home and rising global trade risks will ramp up pressure on Beijing to roll out more stimulus.
Property investment in China declined 11.2% in the first half of the year from the same period last year, after slumping 10.7% in January-May, official data showed on Tuesday.
China’s industrial output grew 6.8% year-on-year in June, quickening from the 5.8% pace in May and beating forecasts, but retail sales growth slowed down, official data showed on Tuesday.
Global sales of electric and plug-in hybrid vehicles jumped 24% in June from a year ago, as a switch to electric vehicles maintained momentum in China and Europe, market research firm Rho Motion said on Tuesday.
President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a comprehensive trade deal.
China’s exports regained some momentum in June while imports rebounded, as firms rushed out shipments to capitalise on a fragile tariff truce between Beijing and Washington ahead of a looming August deadline.