BEIJING, 20 October (H.S.): China’s economy demonstrated resilient growth in the first three quarters of the year, expanding by 5.2% year-on-year, though officials cautioned on Monday that significant external challenges remain. The growth in the third quarter (July-September) was recorded at 4.8%.According to official data released by the National Bureau of Statistics (NBS) and reported by the state-run Global Times, the nation’s Gross Domestic Product (GDP) reached 101.5036 trillion yuan (approximately $14.24 trillion) over the nine-month period. This performance underscores the economy’s stability and vitality despite facing considerable external pressures.

The industrial sector was a key driver of this growth, with the value-added of industrial enterprises increasing by 6.2% year-on-year. High-tech and equipment manufacturing sectors were standout performers, posting robust growth of 9.6% and 9.7%, respectively. Production of advanced goods surged, with 3D printing equipment, industrial robots, and new energy vehicles growing by 40.5%, 29.8%, and 29.7%, respective kg

.Consumer spending also contributed positively, as total retail sales of consumer goods rose by 4.5% to 36.5877 trillion yuan. Online retail sales saw a more significant jump of 9.8%. A government trade-in policy spurred demand for big-ticket items, with retail sales for home appliances and communication equipment climbing by 25.3% and 20.5%.

However, the data also revealed areas of weakness, as national fixed-asset investment fell by 0.5% year-on-year. Excluding the struggling real estate sector, investment grew by a modest 3.0%.An NBS spokesperson acknowledged the achievements but highlighted ongoing risks, stating, External uncertainty and instability are still significant, and global trade and economic growth are facing major challenges.

The spokesperson also pointed to persistent domestic structural issues and operational difficulties for some enterprises.

Hindusthan Samachar / Jun Sarkar