China slowdown deepens as GDP misses target

China’s economic slowdown is getting harder to ignore.
GDP grew just 4.3% YoY in Q2 2026, the slowest pace since Q4 2022 and below the government’s 4.5% to 5.0% target range.
Growth slowed from 5.0% in Q1, leaving first-half growth at 4.7% YoY.
The deeper stress is showing up in investment.
Fixed-asset investment fell 5.7% YoY in the first half, while property investment plunged 18%, the largest drop on record going back to 1992.
Retail sales only rose 1% YoY in June, and auto purchases dropped more than 16%.
For China exposure, the message is clear: weakness is spreading from property into broader demand.