China's Q3 GDP Grows 4.5%, Up from 4.3% in Q2

China's economy recorded a 4.5% growth rate in the third quarter of this year, beating market expectations.

According to Reuters on October 19, China's National Bureau of Statistics announced that its gross domestic product (GDP) for the third quarter increased by 4.5% compared to the same period last year.

This exceeded the market forecast of 4.4% compiled by Reuters.

China's economic growth target for this year is set at 4.5% to 5%.

China's quarterly GDP growth rate stood at 5.0% in the first quarter, but slowed to 4.3% in the second quarter, marking the lowest level in about three years since the fourth quarter of 2022.

Despite sluggish domestic demand, China has maintained strong exports amid the global artificial intelligence (AI) boom. Its cumulative trade surplus for the January-September period reached $938.11 billion, leading to projections that it could surpass $1 trillion as early as the release of October trade data.

(Photo: Getty Images)
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