China GDP Grows 4.9% Led by Trade and Public Investment



CK TAN | Nikkei Asia

SHANGHAI — China’s gross domestic product growth further improved in the July-September quarter on rising consumption and external demand, reflecting the efficacy of its fiscal stimulus to overcome the impact of the coronavirus pandemic.

Growth during the third quarter improved to 4.9% year-on-year, the National Bureau of Statistics said on Monday. That was lower than the median 5.2% forecast by economists polled by Nikkei. It beat the second quarter’s 3.2%, which reversed the sharp contraction of 6.8% during the first quarter.

The government is confident of a sustained recovery in the final quarter even as growth in the first nine months improved marginally by 0.7%. “China has the foundation and condition to maintain the current growth trend,” an NBS spokesperson said.

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