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The National Bureau of Statistics released data indicating that China’s GDP expands 4.5% in third quarter, a rebound from the 4.3 percent recorded in the April-to-June period. This performance surpassed the 4.4 percent median forecast in a Reuters poll of economists. For the first nine months of 2026, economic expansion stood at 4.6 percent, placing it comfortably within the government’s annual target range of 4.5 percent to 5.0 percent.
According to the National Bureau of Statistics, the GDP for the first three quarters reached 107,107.1 billion yuan. By industry, the primary sector grew 3.7 percent, the secondary industry 3.8 percent and the tertiary sector 5.2 percent. On a sequential basis, the economy expanded 1.2 percent in the third quarter, accelerating from 0.9 percent in the second quarter.
Industrial production figures from the National Bureau of Statistics showed a 5.5 percent year-on-year increase in September, the fastest pace in six months. Retail sales rose 1.1 percent in the same month, recovering from 0.4 percent growth in August. These improvements highlight strengthening activity in manufacturing and consumption despite ongoing challenges.
Fixed-asset investment declined 7.2 percent in the first nine months, according to the statistics bureau, reflecting persistent weakness in the property sector. The surveyed urban unemployment rate eased to 5.2 percent in September from 5.3 percent the prior month. Policymakers have introduced targeted measures including rate cuts and mortgage subsidies to support domestic demand.
The National Bureau of Statistics noted that while the external environment remains complex, new growth drivers in high-tech and exports are gaining momentum. Exports have surged, widening the trade surplus and helping offset weak internal consumption. Beijing has allocated additional funds for infrastructure to bolster the economy.
An assessment by the International Monetary Fund lowered its 2026 growth projection for China to 4.5 percent, citing higher energy costs and structural headwinds. Analysts indicated that the better-than-expected third quarter data may reduce the need for more aggressive stimulus in the near term. The economy continues to demonstrate resilience amid global uncertainties and domestic rebalancing efforts.
