Konjunktur: Chinas Wirtschaft wächst wieder etwas schneller
Die chinesische Wirtschaft legt etwas stärker zu als erwartet. Doch zwischen dem starken Exportgeschäft und der schwachen Nachfrage im Inland bleibt eine große Lücke.
China's economy grew at a slightly faster pace in the third quarter of 2022, slightly exceeding expectations, according to Beijing's statistics office. Gross domestic product (GDP) increased by 4.5 percent year-on-year from July to September, up from 4.3 percent in the second quarter. Economists had predicted 4.4 percent growth for the third quarter.
The Chinese government is targeting an annual economic growth rate of 4.5 to 5 percent. The export boom is fueling trade tensions as China's economy continues to develop unevenly. Foreign trade is booming, with exports increasing by 21.3 percent in dollar terms compared to the previous year in the first nine months of the year. China sold goods worth $938 billion more abroad than it bought, creating a massive trade surplus that is causing growing tensions with major trading partners, especially in Europe.
The concern is that cheap Chinese products are putting pressure on domestic manufacturers. The domestic situation is much more challenging. Consumer spending has been restrained, and investment is proceeding slowly due to the ongoing housing crisis. Falling property prices are causing household uncertainty, while construction companies are investing less.
Cities are also short on funds as they receive less revenue from the sale of real estate rights. This is straining demand and complicating a broader economic recovery.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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