WBG said in a China economic brief released July 7 that despite strong supply,
weak demand and a global energy-supply shock, China’s growth has remained
resilient. Year-to-date through May, high-tech industry investment rose 4.5%
YoY, driven by strong domestic and external AI-related demand. Robust external
demand for tech‑intensive goods sustained export momentum, while tech-related
imports expanded materially, reflecting accelerated AI capex and higher demand
for components for tech‑intensive export production. WBG said China has largely
mitigated the energy shock via diversified energy import sources, a relatively
high share of renewables and temporary retail fuel price controls.
