BEIJING: China’s economy expanded 4.5 per cent year-on-year in the July-September quarter, accelerating from 4.3 per cent in the previous quarter, official data showed Monday. Strong exports and gains in high-tech manufacturing, including electric vehicles and semiconductors, helped sustain growth. China’s exports surged sharply, pushing its trade surplus to about $938 billion during the first nine months of the year. However, the recovery remains uneven.
Domestic consumption continues to struggle amid a prolonged property-market downturn that has weakened household confidence and spending. Beijing is seeking to boost domestic demand while maintaining access to overseas markets. China’s growing export dependence is also drawing criticism from major trading partners, particularly the European Union.