China GDP Growth Slows to 4.3%, Missing Target

The world's second-largest economy expanded by just 4.3% year-on-year in the second quarter, missing government forecasts as a property slump and the Middle East oil shock dragged on growth.

Retail sales and factory output showed a modest recovery, but the data points to a deepening reliance on manufacturing exports.

The growth rate marks the weakest pace in more than three years, with strong exports driven by the global AI boom helping to offset trade disruptions caused by the Middle East war.

Young Chinese are increasingly leaving Beijing as costs rise and jobs tighten, while the country turns to electric taxis to soften the impact of the Hormuz oil shock.