AI Data Insight
In Q2 2026, China's cumulative total construction output reached 119,363.49 hundred million RMB, which, although higher than the 53,780.47 hundred million RMB in Q1, represents a significant year-on-year decline of approximately 12.7%. Affected by a sharp drop in real estate development investment and a slowdown in local government infrastructure, the construction PMI in June continued to fall below the boom-bust line. Going forward, the industry will face a long destocking cycle, and recovery will still rely on new infrastructure and the actual implementation of policies.