China Update: Economic Growth Hits 4.6% in Major GDP Report

Monday, 21 October 2024, 06:00

China's economy grew by 4.6% in the latest China news, raising questions about future growth targets. Key indicators like retail sales and industrial output show mixed results, indicating ongoing challenges. Stay updated on this crucial China update.
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China Update: Economic Growth Hits 4.6% in Major GDP Report

China's Economic Growth Figures

As anticipated, China’s GDP rose by 4.6% in the third quarter of this year, reflecting a cautious optimism amid ongoing stimulus debates. This figure is slightly below the 4.7% growth recorded previously, indicating that, despite financial interventions, pressure remains on the economy.

Retail and Industrial Performance

  • China's retail sales rose by 3.2% in September, showing signs of recovery.
  • Industrial output grew by 5.4%, indicating strength in manufacturing.
  • However, property investments saw a significant decline of 10.1% year-on-year, highlighting vulnerabilities in the housing sector.

Impact of Policy Measures

In light of these figures, the People's Bank of China is considering further monetary easing, including potential cuts to the reserve requirement ratio. This shift indicates a serious approach to combat deflationary pressures as key economic indicators fluctuate.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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