According to data released on Monday, the 19th of October by China's National Bureau of Statistics (NBS), China's Gross Domestic Product (GDP) grew by 4.6% year-on-year, reaching 107.11 trillion yuan, equivalent to approximately 16 trillion U.S. dollars, in the first nine months of this year. This fresh figure falls within the annual GDP growth target range of 4.5% to 5%, indicating that the world's second-largest economy is continuing on a sound track and laying a solid foundation for achieving the full-year growth target.
In the third quarter, China's GDP grew by 4.5% year-on-year, up from the 4.3% recorded in the second quarter, while Chinese analysts expect that data for the fourth quarter will rebound further as multiple policy measures take effect.
According to customs data, China's foreign trade growth reached a five-year high in the third quarter. In the first nine months of this year, exports rose by 16.4%, while imports rose by 22.3%.
Article by: Rithy
