China’s economic growth picked up in the three months to the end of September, rebounding from a three-year low as the artificial intelligence (AI) boom helped boost exports.<\/p>\n
The world’s second largest economy grew by 4.5% in the third quarter, up from the previous period but below the 5% expansion recorded from January to March, according to official Chinese data.<\/p>\n
The latest figure is at the bottom end of Beijing’s annual growth target of 4.5%-5%, which analysts have said gives policymakers room to address the country’s economic challenges.<\/p>\n
While exports have helped offset weak spending at home, global trade tensions and uncertainty over AI investments are clouding its outlook.<\/p>\n
China’s National Bureau of Statistics said on Monday that the economy “sustained steady development against pressure” and showed “momentum with new growth drivers and improving structure”.<\/p>\n
With exports climbing, China’s trade surplus – the amount of goods and services it sells abroad compared to what it buys from other countries – is on track to overtake the record $1.2tn (\u00a3900bn) seen last year.<\/p>\n
Sales of high-tech goods rose by 14.3% while the production of both batteries and industrial robots grew by more than 29%, official figures showed.<\/p>\n
Oxford Economics researcher Sheana Yue said manufacturing and high-tech exports have boosted China’s growth, despite weak investment and domestic spending.<\/p>\n
But property investment fell by more than 20% in the first nine months from the same period last year, official data also showed.<\/p>\n
China’s economy has struggling to shake off a long-running property slump, after years of overbuilding and excessive borrowing by private developers.<\/p>\n
There are still no signs that this trend will end soon, Yue said.<\/p>\n
Trade uncertainties and geopolitical issues have also made Chinese consumers more “pessimistic” and unwilling to spend, she added.<\/p>\n","protected":false},"excerpt":{"rendered":"China’s economic growth picked up in the three months to the end of September, rebounding from a three-year…\n","protected":false},"author":2,"featured_media":807309,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[554,733,4308,86,56,54,55],"class_list":["post-807308","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-technology","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/807308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=807308"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/807308\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/807309"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=807308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=807308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=807308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}