China's third-quarter economic growth quickens to 4.5% as exports surge, beating estimates

China's economic growth accelerated in the third quarter, with GDP expanding 4.5 per cent year-on-year according to Channel News Asia. This figure exceeded the 4.4 per cent growth forecast by analysts polled by Reuters and represents an improvement from the 4.3 per cent growth recorded in the April-to-June period. On a quarterly basis, GDP grew 1.2 per cent, surpassing the expected 1.1 per cent rise and following a 0.9 per cent expansion in the previous quarter.

CNBC and CNBC World report that foreign demand for technological goods largely offset sluggish consumer demand during this period. Investing.com notes that while hot demand for technological goods and fresh policy support helped the economy speed up, Beijing has leaned heavily on exports for growth. The outlet further observes that a strategy of redirecting credit from the property sector toward high-tech industries has resulted in a two-speed economy where strong factory output and exports mask weak private investment and consumption.

Brief written by urgent.news from CNBC World, CNBC, Channel News Asia, Investing.com — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.