SYDNEY, July 17 (Xinhua) -- The Chinese economic development was "very positive" in the first half of 2026, a year that is very difficult for many economies, a leading Australian expert on Chinese economics has said.
In a recent interview with Xinhua, Hans Hendrischke, professor of Chinese business and management at the University of Sydney Business School, said China achieved "a very good result" in the period with a stable economy and increasing exports.
China's gross domestic product (GDP) grew 4.7 percent year on year in the first half of 2026, data from the National Bureau of Statistics showed Wednesday.
The positive result was an indicator of the careful macroeconomic planning behind Chinese economic growth, with the growth rate remaining within the target range, Hendrischke said.
Hendrischke was impressed by the strength of China's export growth, noting that it had been "very strong."
China's foreign trade jumped 16.9 percent year on year in the first half of 2026 (H1) to 25.47 trillion yuan (about 3.75 trillion U.S. dollars), according to the data from the General Administration of Customs.
Of the total, exports rose 13.4 percent year on year to 14.73 trillion yuan, maintaining growth for 11 consecutive quarters, while imports expanded 22.1 percent to 10.74 trillion yuan, 8.7 percentage points higher than the export growth rate, facilitating more balanced trade development.
Hendrischke noted that Chinese exports have grown specifically in areas that have a strong future, including high technology, advanced manufacturing, artificial intelligence-related industries and green energy.
"So the fact that China has been able to get into those markets (and) has taken leadership in those markets, is important for its future role," he said.
Hendrischke believes China has become a driver of global economic growth because of its solid economic performance and stable supply chains, while also evolving into a reliable partner in both technology and commerce.
"For future technical growth, for example, China's role in renewable energy is something that for the global economy is going to be crucial," he said.
Hendrischke also noted that, beyond the more visible areas of technology and commerce, China is playing an increasingly important role in international financing and institutional development.
"China is a major partner now for financing in developing countries," he said. "(In) another area again, which is easily overlooked, China is increasingly becoming an institutional partner in the sense of setting standards, of creating procedures, of creating openness, for example, for digital interaction, for AI."
Looking ahead to the second half of the year, Hendrischke said he remains optimistic about China's economic prospects. "China is going to grow and is going to do well in the second half if nothing unforeseen happens."
Speaking about China-Australia economic and trade cooperation, Hendrischke said the two economies are highly complementary.
China is increasingly depending on its supply chains, technical exports and high-tech development, whereas Australia is a resource supplier, he noted.
"So Australia benefits a lot from having a trading partner, a business partner like China," he added.
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