China's Q3 GDP growth accelerates to 4.5%, beating forecast

BEIJING reported that China's economic growth accelerated to 4.5 percent year-on-year in the third quarter, surpassing predictions and alleviating pressure on policymakers to implement more aggressive stimulus measures to meet the annual goal. Economists surveyed by Reuters had predicted a 4.4 percent growth in gross domestic product (GDP) from the same period last year, an increase from the three-year low of 4.3 percent in the April-to-June period.

China's leaders aimed for 4.5 to 5 percent growth for the entire year, promising to introduce effective new policies to support the economy amid subdued domestic demand and investment, despite solid goods export performance. Authorities recently bolstered support for home buyers and introduced measures to inject cheaper credit into sectors such as infrastructure and technology.

They have avoided large-scale stimulus. Quarterly, GDP grew 1.2 percent in the third quarter, exceeding expectations for a 1.1 percent increase and compared with a 0.9 percent expansion in the previous quarter.