China’s third-quarter economic growth quickens to 4.5% as exports surge, beating estimates
Exports of chips and electronics helped offset weak domestic demand and a prolonged housing slump, while growth beat forecasts by 0.1 percentage point, officials said.
- 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.
203 Articles
203 Articles
The Chinese economy is growing slightly stronger than expected, but there is a huge gap between the strong export business and weak domestic demand.
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