China’s third-quarter economic growth quickens to 4.5% as exports surge, beating estimates
Exports of chips and electronics helped lift growth to 4.5%, while Beijing rolled out support measures to counter a prolonged property slump.
- China's National Bureau of Statistics reported the economy grew 4.5% in the third quarter ending September, meeting the lower end of Beijing's annual 4.5-5% target.
- Robust exports of chips and electronics components, driven by a global artificial intelligence boom, offset sluggishness at home and supported China's economy despite weak domestic demand.
- A prolonged housing market downturn in its fifth year remains a drag on growth, with an estimated 70% of Chinese household wealth tied up in property.
- Last month, the government unveiled limited stimulus measures including mortgage subsidies for first-time home buyers and targeted rate cuts as Beijing pledged to step up support.
- The IMF downgraded its 2027 growth projection for China to 4% last week, citing persistent weakness in domestic consumption and investment as headwinds.
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By sectors, the primary grew 3.7% between January and September, the secondary, 3.8%, and the tertiary, 5.2%, according to preliminary estimates released by the National Bureau of Statistics.
berlingske.dk
China is operating at "two speeds" with sluggish domestic demand while tech exports are booming.
China's economy surpassed expectations in the third quarter, approaching the government's annual growth targets, with strengthening exports and industrial production leading the recovery.
China's economic growth picks up as exports boom
China's economic growth bounced off three-year lows in the third quarter, as roaring exports offset consumers' tight grip on their wallets, though analysts warn the growing reliance on external drivers is deepening structural imbalances.
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