China’s economy resilient but recovery remains weak, says official
The comments followed Monday’s better-than-expected third-quarter growth data, as strong exports offset weak consumer spending.
China's economy has shown resilience despite facing external shocks, according to a top economic official. Speaking at a press conference, Zuo Gang, a deputy director at the National Development and Reform Commission (NDRC), stated that the country's economic expansion has continued steadily, but the recovery foundation and momentum remain relatively weak.
This conclusion comes after the release of better-than-expected economic growth data for the third quarter, with strong exports helping to offset consumer caution. However, Zuo emphasized that the impact of external shocks is deepening and that there is a significant mismatch between strong supply and weak demand within China. Divergence across industries is also evident, further indicating that the foundation and momentum for a sustained economic recovery are still weak.
The NDRC is currently drafting an implementation plan for a strategy aimed at expanding domestic demand between 2026 and 2030, and they plan to expedite efforts to issue and implement this plan, as disclosed by Zuo.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- China’s economy resilient but recovery remains weak, says official freemalaysiatoday.com
