BEIJING: China’s economy grew 4.5 per cent year-on-year in the July-September quarter, supported by robust exports, bringing the country closer to its annual growth target even as fixed-asset investment continued to decline, according to data released by the National Bureau of Statistics of China on Monday.
Gross domestic product (GDP) expanded 4.5 per cent in the third quarter, compared with 5 per cent in the January-March quarter and 4.3 per cent in April-June. According to preliminary estimates, China’s gross domestic product (GDP) reached 107.1071 trillion yuan in the first three quarters of 2026, registering growth of 4.6 per cent year-on-year at constant prices, the National Bureau of Statistics of China said.
China’s total imports and exports of goods rose 18.8 per cent year-on-year to 39.9339 trillion yuan in the first three quarters. Exports increased 16.4 per cent, while imports grew 22.3 per cent. Trade with countries participating in the Belt and Road Initiative also increased, with imports and exports rising 17.1 per cent.
The trade figures come as China’s trading partners face increased urgency to address trade imbalances with the country.
Industrial production also remained firm. The value added of industrial enterprises above the designated size rose 5.3 per cent in the first nine months, while manufacturing grew 5.7 per cent. Equipment manufacturing expanded 10.2 per cent and high-tech manufacturing increased 14.3 per cent.
Production of 3D printing devices, lithium-ion batteries and industrial robots rose 62.5 per cent, 39.5 per cent and 29.1 per cent, respectively, during the period.
However, investment remained a weak spot. Fixed-asset investment, excluding rural households, fell 7.2 per cent year-on-year in the first three quarters. Investment in infrastructure declined 4.2 per cent, while real estate development investment dropped 20.6 per cent.
Consumer spending also grew at a moderate pace, with total retail sales of consumer goods increasing 2.6 per cent year-on-year. Online retail sales of goods and services rose 4.4 per cent.
The National Bureau of Statistics said the economy continued to demonstrate resilience but noted that the international environment remained complex and domestic demand still needed to be strengthened. It said future efforts would focus on boosting domestic demand, improving people’s well-being and sustaining innovation-led development to maintain economic momentum. (ANI)
