China's economy picks up in June on rebounding U.S. exports, analysts say

A container ship is berthed at the container terminal in Qingdao, China's eastern Shandong province on June 25, 2026. - | Afp | Getty Images China's economy is showing signs of picking up, thanks in part to a rebound in shipments to the U.S. "Manufacturing saw the clearest improvement. Retail sales recovered nicely," according to the China Beige Book, an independent survey of Chinese businesses, on Monday. The survey, covering 1,321 businesses from June 1 to 22, pointed to a surge in luxury goods sales, but weaker tourism-related spending. "The second quarter is ending on a more positive note than it began, but this performance will need to repeat itself in July and August for there to be legitimate cause for celebration," the report said. The world's second-largest economy lost steam in April and May after a strong first quarter . In May, China's retail sales fell for the first time since the pandemic, official figures showed, while data from the 618 shopping festival, which ran from mid-May through mid-June, showed a sharp slowdown in sales growth. Investment in manufacturing , dragged down by declines in metals, chemicals and auto production, fell in May on a year-to-date basis for the first time since December 2020, according to Chinese financial-data provider Wind Information. But in June, the Beige Book said factory activity "accelerated," and "U.S.-bound orders again saw sharp year-on-year gains." China's exports to the U.S. …