On September 15th, the State Council Information Office held a press conference where Fu Linghui, spokesperson for the National Bureau of Statistics and Director-General of the Department of Comprehensive Statistics of National Economy, presented the national economic performance for August 2026.
Fu noted that international geopolitical conflicts continue to impact global supply chains, with volatile energy prices in international commodity markets adding to uncertainty. Domestically, several regions faced natural disasters, increasing pressure on disaster prevention and relief efforts. Despite these challenges, macroeconomic policies have remained proactive, and the construction of a unified national market has deepened, allowing the economy to maintain a generally stable trajectory while progressing toward innovation and optimization.
August data reveals economic performance characterized by "three stabilizations and two accelerations." The three stabilizations cover production, employment, and prices, while the two accelerations pertain to emerging industries and foreign trade.
Regarding production stability, ongoing Middle East geopolitical tensions have caused persistent fluctuations in international crude oil markets and tightened supplies of key raw materials. As a major global energy importer and manufacturing powerhouse, China faced considerable pressure in securing energy supplies and maintaining stable industrial operations. Through intensified domestic energy production efforts, diversified import channels, and notable achievements in green energy transition, the country effectively secured energy supplies, supporting stable production. In August, value-added output of industrial enterprises above designated size grew 5.2% year-on-year, accelerating by 0.7 percentage points from the previous month, while the services production index rose 4.1%, maintaining overall stability.
On employment stability, the steady production performance laid a solid foundation. Stable industrial growth supported workforce demand, while expanding service sectors—particularly emerging fields like information transmission, software, and IT services—contributed significantly to job creation. The surveyed urban unemployment rate in August stood at 5.3%, up 0.1 percentage points from the previous month. Fu attributed this increase to seasonal effects as recent graduates entered the labor market. However, the unemployment rate for the primary working-age population (aged 30-59) was 3.9%, unchanged from both the previous month and the same period last year, indicating overall stability. While structural adjustments reduced employment in certain industries year-on-year, manufacturing employment remained broadly stable, and IT-related service sectors saw notable workforce increases. Accommodation and catering continued expanding employment, driven by domestic cultural tourism and leisure activities.
On price stability, the stable production environment also facilitated price control. International geopolitical tensions have heightened volatility in global commodity markets, affecting price stability in major economies, with inflation levels in advanced economies rising noticeably this year. In response, China strengthened supply assurances, boosted production of essential goods, and effectively stabilized market prices. In August, consumer prices rose 0.8% year-on-year, and producer prices for industrial goods increased 3.8%, with both rates expanding by 0.3 percentage points from the previous month. These levels remain relatively moderate in international comparison, Fu stated.
Turning to the two accelerations, emerging industries demonstrated robust growth. Fu highlighted that the integration of technological and industrial innovation, advancing green transformation, and accelerating global AI and energy transition dynamics have propelled rapid expansion in high-tech manufacturing, digital products manufacturing, and IT services. These sectors are making substantial contributions to the shift between old and new growth drivers and quality improvements. August data shows value-added output of high-tech manufacturing and digital products manufacturing above designated size increased 16.7% and 15.7% year-on-year respectively. Estimates indicate new growth drivers contributed over 60% of August's industrial output growth, with this share continuing to rise. The production index for information transmission, software, and IT services grew 9.6%, contributing over 20% to overall services production index growth.
Foreign trade also recorded robust expansion, supported by China's comprehensive industrial system, improving technological capabilities, and product quality. The country has pursued mutually beneficial economic exchanges, actively expanded imports, and promoted balanced trade development while maintaining rapid goods trade growth. In August, total goods imports and exports grew 19.8% year-on-year. Export growth for green products such as new energy vehicles and lithium batteries has been particularly strong, facilitating global green transition. Meanwhile, imports from developing countries including ASEAN members, Africa, and Latin America increased substantially, creating new opportunities for industrial development in those economies.
Fu emphasized that despite a turbulent external environment and numerous uncertainties, China's economy has overcome difficulties to maintain stable operations. The accumulation and expansion of new growth drivers demonstrate robust resilience and vitality, positioning the country as a significant engine and stabilizing anchor for global development.
He also acknowledged deepening adverse external impacts, prominent contradictions between robust supply and relatively weaker demand, and operational difficulties facing some enterprises. These factors mean the foundation for sustained economic improvement requires further consolidation. In the coming period, macro policy adjustments will be strengthened, with focus on expanding domestic demand, advancing industrial upgrading, enhancing growth momentum, and stimulating vitality to drive continued economic progress toward innovation, optimization, and improvement.