China GDP Grows 3.9% Year-on-year in 3rd Quarter: Report


Last Updated: October 24, 2022, 08:15 IST

A man watches a screen showing the live broadcast of Chinese President Xi Jinping attending the opening ceremony of the 20th National Congress of the Communist Party of China, in Shanghai, China. (Image: Reuters)

The data, published six days later than scheduled, showed higher growth than the 2.5 percent predicted by a panel of experts

China’s economy grew 3.9 percent year-on-year in the third quarter, according to official data released Monday, beating forecasts.

The data, published six days later than scheduled, showed higher growth than the 2.5 percent predicted by a panel of experts surveyed by AFP.

Last Monday, China delayed the release of the third-quarter growth figures — along with a host of other economic indicators — as the country’s leaders gathered to hand President Xi Jinping a historic third term.

Beijing’s National Bureau of Statistics announced that the release of the economic data would be “postponed” without specifying a reason or timeline for the figures to be released.

China had been expected to announce some of its weakest quarterly growth figures since 2020, with its economy hobbled by Covid-19 restrictions and a real estate crisis.

Read all the Latest News here



Source link