NBS: China's Q1 GDP rises 5% YoY, economy off to a good start

The first quarter witnessed a sound start for the national economy in 2026, with domestic production accelerating, market demand continuing to improve, and high-quality progressing toward new frontiers, according to NBS.

Among the three pillars supporting China's economy, the tertiary sector contributed the most to the GDP growth in Q1, with its production value rising 5.2% on year to Yuan 20.6 trillion, NBS data showed.

The primary driver for the growth in the tertiary sector remained the information transmission, software and information technology services, of which the output value jumped 12.2% on year, according to the data. Meanwhile, the production value in financial services went up by 10.6% on year, and that in transportation, storage and postal services logged an increase of 6.5%.

In parallel, the production value of China's agriculture sector expanded 3.8% on year to reach Yuan 1.2 trillion in the first quarter, while that of the industrial sector grew 4.9% to Yuan 11.6 trillion.

Within the industrial sector, the value added in the mining and manufacturing industries rose by 6% and 6.4% on year, respectively, NBS data showed. By production, the output of 3D printing equipment, lithium-ion battery, and industrial robots surged 54%, 40.8%, and 33.2% on year respectively.

With high-quality transition being the key strategy for China's industry development, the output value of high-tech manufacturing industries grew 12.5% on year, and the national investment in the high-tech industries also increased 7.4% on year.

The country's employment situation remained stable over the first three months of this year, as the unemployment rate in the townships stayed unchanged on year at 5.3%, while the per capita disposable income expanded 4.9% on year to reach Yuan 12,782, according to NBS data.

Written by Anthea Shi, shihui@mysteel.com

Edited by Alyssa Ren, rentingting@mysteel.com