China’s growth accelerates as AI export boom outweighs domestic weakness
China’s economic growth picked up in the three months to the end of September, rebounding from a three-year low as the artificial intelligence (AI) boom helped boost exports. The world’s second largest economy grew by 4.5% in the third quarter, up from the previous period but below the 5% expansion recorded from January to March, […] The post China’s growth accelerates as AI export boom outweighs…
China's economy experienced a rebound in the third quarter, growing by 4.5% compared to the previous period, though slightly below the 5% expansion target set by Beijing. The surge was driven by the artificial intelligence (AI) export boom, which helped offset weak domestic spending. The National Bureau of Statistics reported that China "sustained steady development against pressure" with "momentum from new growth drivers and improving structure."
Exports, particularly in manufacturing and high-tech sectors, have been a key driver of growth. However, property investment fell by over 20% in the first nine months compared to the same period last year. Trade uncertainties and geopolitical issues have made consumers more pessimistic, affecting spending. Beijing has unveiled support measures, but Chinese businesses remain reliant on exports due to weak domestic consumption.
Written by urgent.news from KBC's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
