China's key economic indicators have shown significant progress in the first two months of 2026, and the national economy has started the year off on a strong note, according to data released by the National Bureau of Statistics (NBS) on Monday.

In the latest, China's retail sales of consumer goods are up 2.8% year-on-year during January-February, while retail sales of services have increased 5.6%.

China's value-added industrial output is up 6.3% year-on-year during the same period. 

This growth is mainly driven by improvement in domestic demand, the enhancement of export-driven factors, and the manifestation of macro-policy effects, NBS spokesperson Fu Linghui said at a press conference.

Meanwhile, the services industry production index has risen by 5.2% year-on-year.

Additionally, fixed-asset investment (excluding rural households) grew 1.8% year-on-year. 

Since the beginning of 2026, the growth rate of investment has turned from decline to increase. Investment in key areas has grown particularly rapidly, such as in high-tech industries, said Fu.

It is worth noting that so far this year, the export trade has shown a solid growth trend. Total imports and exports increased by 18.3% year-on-year during the first two months of 2026, which was significantly faster than the full-year growth achieved in 2025.

Under the combined influence of a marginal improvement in global demand, the rapid development of emerging industries worldwide, and the enhanced competitiveness of China's products, foreign trade experienced rapid growth in the first two months, Fu explained.

The job market has remained generally stable, with the surveyed urban unemployment rate holding steady at 5.3%.

The major economic indicators showing notable improvements in the first two months indicate a favorable start to the national economy this year, Fu said.

(Cover via VCG)