This episode contains segments on:

• China’s January to June urban unemployment rate;
• China’s January to June real estate data;
• China’s January to June urban fixed asset investment;
• China’s January to June households’ income and consumption expenditure;
• A joint announcement by the French president and the German chancellor; and
• European Chamber meets European Commissioner for Energy and Housing Dan Joergensen.

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Read more:

China’s January to June youth unemployment rate

https://english.www.gov.cn/archive/statistics/202607/15/content_WS6a5737e0c6d00ca5f9a0c384.html?utm_source=chatgpt.com

https://baijiahao.baidu.com/s?id=1871229429287938923&wfr=spider&for=pc

https://english.www.gov.cn/policies/latestreleases/202607/14/content_WS6a558bdfc6d00ca5f9a0c2cf.html

China’s January to June real estate data

https://www.stats.gov.cn/sj/zxfb/202607/t20260715_1964126.html

https://www.stats.gov.cn/sj/sjjd/202607/t20260715_1964114.html

https://english.news.cn/20260715/cfb73d6448034c62a397445e5e25eaa2/c.html

China’s January to June urban fixed asset investment

https://www.stats.gov.cn/sj/zxfb/202607/t20260715_1964124.html

China’s January to June households’ income and consumption expenditure

https://www.stats.gov.cn/sj/zxfb/202607/t20260715_1964129.html

A joint announcement by the French president and the German chancellor

https://www.ft.com/content/e8f185db-9b5c-4d0c-8e5e-e130483f151d?syn-25a6b1a6=1

https://www.lemonde.fr/en/economy/article/2026/07/17/france-germany-to-draft-joint-roadmap-on-china-trade-by-september_6755584_19.html?srsltid=AfmBOopUmIN5FBCIz4Kul6YnTEnCSHsb1r0teOZZaN80UBJ7CaN8lWoM

https://www.euronews.com/my-europe/2026/07/17/france-and-germany-deepen-defence-ties-and-push-for-tougher-stance-on-china

Transcript:

RUI: Hello and welcome to China ShortCuts,

XINHE: the European Chamber’s weekly catchup on China’s business landscape.

RUI: This episode was recorded on 22^nd July 2026.

RUI: According to data published by the National Bureau of Statistics on 15^th July, China’s surveyed urban unemployment rate stood at 5 per cent in June, down from 5.1 per cent the previous month. The average surveyed urban unemployment rate for the first half of this year is 5.2 per cent.

XINHE: Unemployment among China’s urban youth saw a significant drop in June. Slightly less than 15 per cent of people between the ages of 16 to 24 not currently enrolled in education were out of a job, down from 15.6 per cent in May.  For those aged 25 to 29, excluding students, the unemployment rate is relatively stable at 7.1 per cent. The rate for people between the ages of 30 and 59 fell 0.1 percentage point, to 4 per cent.

RUI: While the June data indicates some easing, Xiao Ning, Director of the Population and Employment Statistics Department of the statistics bureau highlighted that there is still an imbalance between labour supply and demand, with weak demand for workers in some sectors, underscoring the need for additional employment support. This is something that is already on the government’s agenda: the plan to expand consumption during the 15^th Five-year Plan period, released on 13^th July by the State Council, includes pledges to “promote high quality and full employment”.

(MUSIC)

RUI: Investment in China’s real estate market—an ongoing pain point in China’s economy— dropped 18 per cent year-on-year in the first six months of 2026, according to data released by the National Bureau of Statistics on 15^th July.

XINHE: At the same time, the decline in China’s new-home prices showed signals of easing in June, with the number of cities reporting month-on-month increases in new home prices rising to 20, up from 16 in May. This is the highest number of cities reporting an uptick in new home prices recorded in a year. Mao Shengyong, deputy head of the statistics bureau told a press conference on 15^th July that China will continue to “adopt city-specific policies and promote the stable and healthy development of the property market”. The real estate slump, now in its fifth consecutive year, has been a significant drag on China’s economy, with its impact not limited to households and property developers. Local governments are struggling too, with their revenue from selling land-use rights having halved between 2021 and 2025.

(MUSIC)

RUI: Urban fixed asset investment registered its steepest decline since the COVID-19 pandemic in the first half of 2026. It totalled 22.63 billion yuan in the January-June period, contracting 5.7 per cent year-on-year.

XINHE: While private investment dropped at a faster rate, down 8.5 per cent from a year ago, state investment in fixed assets also saw a decrease of 2.3 per cent in the first half of the year. A big contributing factor to the continued contraction in fixed asset investment is local government debt, as cash-strapped local governments are putting investment projects on hold.

(MUSIC)

RUI: On 15^th July, the National Bureau of Statistics issued a statement highlighting that in the first half of 2026, China’s per capita disposable income and consumption expenditure both increased.

XINHE: From January to June, China’s per capita disposable income was close to 23 thousand yuan, representing a nominal increase of 5.2 per cent year-on-year and a real growth of 4.2 per cent year-on-year after deducting price factors. During the same period, China’s per capita consumption expenditure was a little under 15 thousand yuan, a nominal increase of 3.7 per cent year-on-year, and a real increase of 2.7 per cent year-on-year after deducting price factors.

RUI: The improvements in income and consumption are positive, as sustained real income growth is essential for Chinese policymakers to address structural issues that are putting a strain on China’s economy, including the imbalance between supply and demand, and unhealthy competition.

(MUSIC)

RUI: On 17^th July, French President Emmanuel Macron and German Chancellor Friedrich Merz co-chaired the 26^th Franco-German ministerial council in Germany, where they discussed issues pertaining to their bilateral ties as well as to the European Union. At a joint press conference held after the event, they announced that the two countries aim to draw up a joint “roadmap” by September to address issues ranging from defence co-operation to EU integration. Macron said that the countries had “never been as aligned on the question of China”.

XINHE: Regarding China, the French President proposed “emergency measures and early-warning procedures that the Commission can implement to react immediately and protect our industrial base.” Merz highlighted the EU’s growing trade deficit with China, calling for solutions to address the issue, warning that “it comes at the expense of our industry.”

(MUSIC)

RUI: On 21^st July, European Chamber Vice President Gianni di Giovanni and Secretary General Adam Dunnett met with European Commissioner for Energy and Housing Dan Joergensen at a dinner hosted by Danish Ambassador Michael Starbæk Christensen. 

XINHE: Vice President di Giovanni presented the Chamber’s latest Business Confidence Survey. He also shared several recommendations from the European Chamber’s Energy Working Group aimed at facilitating China’s green transition, which included streamlining cross provincial power purchasing agreements, enhancing green electricity certification systems, setting sustainable fuel blending targets, aligning methanol with global maritime rules, and opening pilot programmes to European technologies. European Union Ambassador to China Jorge Toledo also joined the event and shared his views on EU-China trade and investment relations.

(MUSIC)

XINHE: Thanks for listening, and don’t forget to tune in again next week.

RUI: In the meantime, please find useful links in the episode notes.

XINHE: Listen to the full episode on our WeChat account or your preferred podcast platforms.