China’s economy grows 4.8% in 3rd quarter
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The July-September data was the weakest pace of growth since the third quarter of 2024, and compares with a 5.2% pace of growth in the previous quarter, officials said.
China's economic growth slowed to the weakest pace in a year in the third quarter as fragile domestic demand left it heavily reliant on the humming of its exporting factories, stoking concerns about deepening structural imbalances.
China's economic growth slowed to the weakest pace in a year in the third quarter, matching expectations, as a prolonged property slump and trade tensions hurt demand, keeping pressure on policymakers to roll out more stimulus to shore up momentum.
Beijing is fighting to limit the damage from a pattern of price wars and excess capacity across multiple industries.
"Perhaps of greatest concern for China is the software used in advanced manufacturing – Western companies control over 70% of the Chinese market for chip design software, for example."
BEIJING: China's ruling Communist Party kicked off four days of closed-door meetings on Monday (Oct 20) involving high-ranking officials in discussions on long-term economic planning, state media reported.
Next, the editorials insist that China is profoundly resilient. They note risks, including American protectionism and weak consumer demand at home, but treat them almost as inconveniences. One editorial repeats Mr Xi’s line that “China is an ocean, not a pond”—big enough, that is, to cope with anything.
China's Communist Party meets this month to map a five-year vision that prioritises high-tech manufacturing in its quest to upgrade its sprawling industries and project global power as its rivalry with the U.