China’s Gross Domestic Product (GDP) grew 4.8 percent from January to September, according to data from the National Bureau of Statistics through its deputy director, Sheng Laiyun.
The official indicated in a press conference that the GDP stood at 94.97 trillion yuan (13.33 trillion dollars) in the described period, clarifying that during the third quarter, the Chinese economy experienced an expansion of 4.6 % from year to year.
Laiyun has described the performance of the local economy as stable, amid adverse external factors. He highlighted the economic recovery in September, with an increase in production and demand. In the industrial production sector, as well as equipment manufacturing and high-tech, an increase of 5.8 % was seen compared to 2023. Likewise, the service sector showed an increase of 4.7 % in added value.
“Consumption maintained an upward trend, with a 3.3% growth in retail sales of consumer goods compared to last year. Investment in fixed assets rose by 3.4 %, driven by the vibrant influx of capital into high-tech industries.”
The Chinese government is striving to coordinate existing policies with new ones, for their prompt implementation, which will lead the Asian country to the economic and social development goals set for the entire year.
M.Pino
Source: Xinhuanet
(Reference image source: Christian Lue in Unsplash)
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