News · timesofindia.indiatimes.com

China economy gains pace on exports as domestic demand falters

China's economy grew 4.5% in the July-September quarter from a year earlier, beating expectations and up from 4.3% in April-June, which was the slowest pace in more than three years. The growth brings Beijing closer to its 2026 target of 4.5%-5%, although the IMF has cut its forecast for China to 4.5%. Exports rose 36% last month, and the trade surplus reached $938 billion between January and September, putting China on course to exceed last year's record $1.2 trillion, driven by high-tech goods and electric and hybrid vehicles. Domestic demand remains weak amid the property downturn, and analysts say the headline figure hides wide gaps across industries, regions and households. The EU and China agreed this month to roughly halve Chinese hybrid vehicle imports over the next few years, but European countries are considering further curbs on Chinese products.

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