China's economic growth picks up in third quarter, beating expectations

Business Recorder reported that China's economy expanded 4.5% year on year in the third quarter, exceeding the 4.4% estimate in a Reuters poll. The pace also improved on the 4.3% recorded in April to June, which was the weakest in more than three years. Growth for January to September reached 4.6%, within the government's annual target range of 4.5% to 5.0%.

Exports have carried growth this year, but that engine faces mounting strain as domestic demand stays soft and trade friction with the European Union intensifies. The September trade surplus beat expectations, with exports rising sharply, and is on pace to exceed the $1.2 trillion record set last year. Fixed-asset investment fell 7.2% in the first nine months, while property investment dropped 20.6%.

Retail sales rose 1.1% in September, the fastest pace since March, while industrial output grew 5.5%. Policymakers have held back from large-scale stimulus, relying on strong goods exports and an AI-driven tech boom to help reach the annual goal. Even so, authorities have increased assistance for those buying homes and earmarked 550 billion yuan ($82.28 billion) of unspent state debt allowances.