The literature on driving indicators of economic growth shows diverse findings and commonly derives symmetric relationships. The current research aims to observe the linear and non-linear influence of primary indicators of interest. The results reveal that industrial value-added positively, while urbanization negatively influences China's short and long-term economic growth. Conversely, natural resource rents exhibit no immediate positive effect but contribute to long-term economic growth. A positive change in industrial value and financial development enhances economic growth with a more profound positive shock in the short and long run. Simultaneously, their negative change reduces the economic growth in China. Whether positive or negative, fluctuations in natural resource rents contribute to economic growth, waving the asymmetric dynamic in the short and long run. Further, urbanization boosts economic expansion during negative shocks but lacks significance during positive shocks in both short and long runs. Moreover, the frequency domain causation approves the structural transformation. In the same scenario, notable discrepancies in wavelet decomposition show significant fluctuations across all series, contributing to economic growth. To boost both immediate and sustained economic growth, investing in industries focused on value addition and refining urban planning to balance growth between megacities and smaller emerging urban areas is essential.