China's Economic Growth Misses Targets in Q2

GDP growth slows to 4.7% in the second quarter, falling short of the 5% annual target amid weak consumer demand and property market woes.

Retail sales growth slumped to 2% in June, the lowest since December 2022.
Property investment fell by 10.1% year-on-year, with new home prices dropping at the fastest pace in nine years.
Industrial output grew by 5.3% in June, slightly above expectations but down from May's 5.6%.
The unemployment rate held steady at 5%, but youth unemployment remains a concern.
High-level CCP meeting underway to discuss long-term reforms and potential stimulus measures.