BEIJING: China’s robust 5.2% economic expansion in the first three quarters has laid a solid foundation for achieving its full-year growth target, analysts say.
This comes as the world’s second-largest economy continues to show resilience with strong industrial production despite headwinds.
They said that growth momentum is expected to persist in the final quarter of the year, supported by a potential new round of measures that are aimed at shoring up demand, spurring consumption and reviving confidence in the property market.
Wang Qing, chief macroeconomic analyst at Golden Credit Rating International, said: “We expect China’s gross domestic product (GDP) growth to stabilise in the fourth quarter.
“Driven by the implementation of growth stabilising policies, it will enable the country to smoothly achieve its full-year target of around 5%.”
Wang made the comments after data from the National Bureau of Statistics showed on Monday that China’s gross domestic product grew 4.8% year-on-year in the third quarter. This followed a 5.2% rise in the second quarter of this year.
In the first three quarters, China’s GDP rose 5.2% after recording 5.3% growth in the first half of the year. — China Daily/ANN
