China's leading provinces post record imports and uneven GDP growth in H1 2026

Several of China's largest provinces released first‑half‑2026 data showing divergent economic trends. Seven provinces posted GDP growth above the national average of 4.7%, with Shandong, Zhejiang and Shanghai recording 5.6%‑plus growth, while Guangdong, Fujian and Hunan lagged. Hunan fell to the 11th spot in national GDP rankings and posted negative retail sales growth.

National imports surged to a historic high, with total import value reaching 25 trillion yuan. Imports of automatic data‑processing equipment and components rose 72.2% year‑on‑year to 610.7 billion yuan, driven largely by Guangdong, which alone accounted for nearly half of this category’s imports. Henan’s imports jumped 551.7% to 252.5 billion yuan, and Shanghai’s storage‑component imports rose 120.7% despite a slight quantity decline. Integrated‑circuit price spikes, especially in AI‑related equipment, were a major factor behind the import surge.

Overall, China’s imports hit 10.74 trillion yuan, up 22.1% year‑on‑year, outpacing export growth and underscoring strong external‑trade momentum.