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 growing 4.5 per cent year-on-year according to Channel News Asia. This figure beat expectations and improved upon the 4.3 per cent growth recorded in the April-to-June period. On a quarterly basis, GDP grew 1.2 per cent, surpassing expectations of a 1.1 per cent rise.

CNBC and CNBC World report that foreign demand for technological goods largely offset sluggish consumer demand. Investing.com notes that while hot demand for technological goods and policy support helped the economy speed up, further stimulus may be required to maintain momentum. Investing.com further states that China's strategy of redirecting credit from the property sector toward high-tech industries has created a two-speed economy where strong factory output and exports mask weak private investment and consumption.

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