China's economic growth slows down

VTV.vn - China's economic growth slowed down as GDP in the third quarter increased by only 4.8% - the lowest level in a year.

View of a cargo port in Qingdao, Shandong province, China. Photo: THX/TTXVN

According to data just released by the National Bureau of Statistics of China, the third quarter GDP of the world's second largest economy grew 4.8% compared to the same period last year - the lowest level in the past year.

Some other important data such as September retail sales also slowed down with an increase of 3.4%. In particular, fixed asset investment unexpectedly decreased by 0.5% in the first 9 months of the year, contrary to market forecasts. Some experts said that this is an unusual decrease, which could set off warning signals for the world's second largest economy.

However, there were also more positive signs, such as industrial production in September increased the most in the past 3 months. Other figures such as export recovery in September also partly showed the resilience to trade fluctuations from US policies.

"The 4.8% growth rate was within market expectations. But looking at the first three quarters of the year, the 5% growth target is still feasible, as the Chinese economy is still adapting well to the pressure from tariffs. The country is sending a signal that it is still strongly committed to current policies," said Ms. Dan Wang, China economist at Eurasia Group.

After the Q3 data, the market will focus on China’s four-day summit, which begins today, expected to unveil goals and strategies for the upcoming 2026-2030 Five-Year Plan. The Central Economic Work Conference in December is also expected to signal the country’s economic stimulus policies for next year.

Meanwhile, for the rest of this year, experts say Chinese authorities may implement measures to increase investment, helping to boost growth in the context of recovering domestic consumption, which is still a difficult problem for the country.

Source: https://vtv.vn/kinh-te-trung-quoc-tang-truong-cham-lai-100251020142831193.htm