GLOBALink | China's economy on more solid ground with steady Q3 growth

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GLOBALink | China's economy on more solid ground with steady Q3 growth

China's economy is on more solid ground in the third quarter of this year with major indicators showing positive signs of stabilization, backed by the country's efforts to balance epidemic control and economic and social development. According to the National Bureau of Statistics (NBS), China's gross domestic product (GDP) grew 3.9 percent year on year to 30.76 trillion yuan (about 4.32 trillion U.S. dollars) in the third quarter, 3.5 percentage points higher than that in the second quarter. The NBS said that in the first three quarters, China's GDP increased 3 percent year on year, 0.5 percentage points faster than that in the first half of 2022. The NBS said that many major economic indicators saw significant improvements compared with that in the second quarter, with production demand gradually recovering, and prices and employment remaining stable. Produced by Xinhua Global Service

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