This episode contains segments on:
- China second quarter GDP growth;
- Investment in China’s real estate market in June;
- China June industrial output and retail sales; and
- China June foreign trade data.
European Commission Executive Vice President Teresa Ribera and three Commissioners met European Chamber representatives during their visit to China for the 6th EU-China High-Level Environment and Climate Dialogue on 13th and 14th July.
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Read more:
GDP growth
https://www.stats.gov.cn/sj/zxfbhjd/202507/t20250715_1960414.html
https://www.stats.gov.cn/sj/zxfbhjd/202507/t20250715_1960415.html
Real estate
https://www.stats.gov.cn/sj/zxfb/202507/t20250715_1960410.html
Industrial production and retail sales
https://www.stats.gov.cn/sj/zxfbhjd/202507/t20250715_1960413.html
https://www.stats.gov.cn/sj/zxfbhjd/202507/t20250715_1960409.html
Foreign trade data
http://www.customs.gov.cn/customs/302249/zfxxgk/2799825/302274/302275/6623728/index.html
http://www.customs.gov.cn/customs/302249/zfxxgk/2799825/302274/302275/6623719/index.html
http://www.customs.gov.cn/customs/302249/zfxxgk/2799825/302274/302275/6623891/index.html
6th China-EU High-Level Environment and Climate Dialogue
https://english.www.gov.cn/news/202507/15/content_WS687587e6c6d0868f4e8f423b.html
Transcript:
RUI: Hello and welcome to China ShortCuts,
MARIANN: the European Chamber’s weekly catchup on China’s business landscape.
RUI: This episode was recorded on 16th July 2025.
(MUSIC)
RUI: On 15th July, the National Bureau of Statistics—or NBS—released China’s second quarter gross domestic product—or GDP—data, which showed growth of 5.2 per cent.
MARIANN: The figure represents a modest slowdown compared with the first quarter of 2025, when growth measured 5.4 per cent. However, the data suggests that China is still on track to meet its 2025 GDP growth target of around five per cent. In a press conference in conjunction with the data release, NBS Deputy Commissioner Sheng Laiyun noted that GDP growth this year has so far exceeded last year’s 5 per cent growth rate, something that he put down to overall stability in the Chinese economy. Policymakers will likely view above-target GDP growth as a sign that stimulus measures are working. However, it has yet to be seen if European businesses in China—for whom China’s economic slowdown is the top business challenge according to the European Chamber’s Business Confidence Survey 2025—have seen a positive change.
(MUSIC)
RUI: Investment in China’s real estate market—an ongoing pain point in China’s economy—continued to decline in June, according to data released by the NBS on 14th July.
MARIANN: Real estate investments dropped 11.2 per cent in the first six months of 2025 and home prices continued to decline. Following the release of June data, NBS Deputy Commissioner Sheng Laiyun noted that more measures were needed to return the real estate market to a stable situation, a sign that more stimulus measures directed at the real estate sector are likely on the way.
(MUSIC)
RUI: On 15th July, the NBS released June industrial output and retail sales data, with both segments posting growth year-on-year.
MARIANN: China’s industrial output grew 6.8 per cent year-on-year in June, up from 5.8 per cent in May. This resulted in a 6.4 per cent growth rate overall for the first half of 2025 compared to the same period last year. Retail sales grew 4.8 per cent year on year in June, down significantly from the 6.4 per cent year-on-year growth in May, suggesting that stimulus measures directed at the sector may not continue to bring sustainable growth throughout the year. Taking June data into account, the first six months of the year saw 5 per cent growth in retail sales overall.
(MUSIC)
RUI: On 14th July, the General Administration of Customs released trade data for June, with China posting year-on-year increases in both imports and exports.
MARIANN: Exports grew 5.8 per cent in USD terms or 7.2 per cent in Chinese yuan terms. Imports grew 1.1 per cent in USD terms or 2.3 per cent in Chinese yuan terms, marking the first time imports have grown in 2025. The growth comes amidst a temporary reduction in US-China tariffs, resulting in a more modest decline in Chinese exports to the United States compared to previous months. While a sudden increase in tariff levels could once again result in a rapid fluctuation in US-China trade, businesses have already begun shifting a significant volume of shipments to other markets.
(MUSIC)
RUI: On 14th June, Executive Vice President of the European Commission for a Clean, Just and Competitive Transition Teresa Ribera and Chinese Vice Premier Ding Xuexiang co-chaired the 6th EU-China High-Level Environment and Climate Dialogue in Beijing. EU Commissioners Wopke Hoekstra, Jessika Roswall and Dan Jørgensen joined senior Chinese counterparts for a plenary session and two sectoral sessions dedicated to the circular economy and energy.
MARIANN: According to the meeting readouts from the EU and China, both sides reaffirmed their commitment to multilateralism, and pledged to work together towards the 30th Conference of the Parties to the United Nations Framework Convention on Climate Change, or COP30, which will be held in November in Brazil. They discussed areas of future cooperation, including carbon markets and the EU’s Carbon Border Adjustment Mechanism, or CBAM, as well as continued collaboration on water, deforestation and wildlife. Commissioner Roswall reiterated the two sides’ commitment to the 2018 bilateral memorandum of understanding on circular economy, and discussed a future roadmap for sharing best practices and addressing relevant opportunities and challenges. Commissioner Jørgensen and Administrator of China’s National Energy Administration Wang Hongzhi signed a joint readout setting accelerated clean-energy transition targets and ensuring energy security as core objectives.
RUI: Ahead of the bilateral meetings, on 13th and 14th July, European Chamber representatives had met with Executive Vice President Ribera and the three Commissioners participating in the talks.
MARIANN: During the meetings, Chamber representatives from relevant sectors provided updates on key advocacy issues including plastic recycling, water treatment, green electricity and export controls. Joining the meeting with Executive Vice President Ribera, European Chamber Executive Committee Member Bruno Weil provided recommendations on how to address imbalances in the EU-China relationship, aimed at ensuring engagement with China brings value to the EU.
RUI: If you have not already, you can follow the European Chamber’s official WeChat account to read more about the Chamber’s latest advocacy activities.
(MUSIC)
MARIANN: 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.