China witnessed impressive economic growth during the first three quarters of 2024, according to data released by the National Bureau of Statistics (NBS) on Friday.
The country’s gross domestic product (GDP) grew by 4.6 percent in the third quarter, following a 4.7 percent increase in the second quarter. Overall, China’s GDP expanded by 4.8 percent in the first three quarters, reaching over 94.97 trillion yuan (approximately $13.34 trillion).
Experts attribute this steady growth to robust domestic consumption and resilient export performance, despite global economic uncertainties. The positive figures have buoyed optimism that China is on track to meet its annual growth targets.
“China’s economy has shown remarkable resilience and vitality,” said an NBS spokesperson. “The continued expansion reflects the effectiveness of our economic policies and the strong momentum of recovery.”
The data has been well-received by global investors and market analysts, who view China’s economic performance as a bellwether for the broader Asian region. Business professionals are closely monitoring these developments for potential investment opportunities and market trends.
Academics and researchers note that China’s sustained growth contributes significantly to global economic stability. The strong performance in sectors such as technology, manufacturing, and services highlights the country’s evolving economic landscape.
As China continues to navigate post-pandemic recovery, the government is expected to implement measures to maintain economic stability and promote sustainable growth. The focus remains on balancing domestic demand with export strategies to ensure long-term prosperity.
For the Asian diaspora and global readers, these developments underscore China’s influential role in shaping economic dynamics both regionally and worldwide.
Reference(s):
China's GDP grows 4.6% in Q3, optimism buoyed towards growth targets
cgtn.com
