China Q2 GDP Growth Slows to 4.3%, Weakest Since Late 2022

China's economy grew at a slower-than-expected pace in the second quarter, with GDP rising 4.3% year-on-year compared to 5.0% in the first quarter. This marks the weakest quarterly expansion since late 2022, according to ING's Chief Economist for Greater China, Lynn Song.

Song noted that the deceleration highlights persistent domestic demand weakness and external headwinds. Markets now anticipate additional policy support from Beijing to stabilize growth, though specifics remain unclear.

The data adds pressure on Chinese authorities to deliver more aggressive stimulus, particularly given ongoing challenges in the property sector and subdued consumer confidence.