China's economic growth showed signs of slowing in the first half of 2025, with second-quarter GDP growth declining to 5.2%. Domestic consumption lost momentum, and property investment fell at its fastest rate since early 2020. Fixed-asset investment growth decelerated sharply to 2.8% year-over-year in the first half, down from 3.7% in May, marking the slowest half-year growth amid ongoing weaknesses in the property and manufacturing sectors. Despite these challenges, retail sales of consumer goods increased by 5% year-over-year in the first half, contributing 52% to economic growth, driven by accelerated service consumption, holiday spending, growth in high-value-added consumer goods, and emerging green consumption trends. Looking ahead to the second half of 2025, Chinese officials expressed confidence in maintaining steady economic growth, supported by a stable recovery trend, sustained expansion of aggregate demand, and coordinated efforts to balance domestic economic priorities with external trade challenges. Price levels are expected to recover slightly from low year-over-year levels, underpinned by the stable economic environment and expanding demand. The government continues to promote a new development paradigm and proactive policies to support the economy amid structural adjustments and external uncertainties.