A Steady Uptrend

With the novel coronavirus disease (COVID-19) epidemic largely brought under control at home, China’s GDP expanded 4.9 percent year on year in the third quarter (Q3) as business activities gradually resumed, according to the National Bureau of Statistics (NBS) on October 19. The Chinese economy reported a 6.8-percent slump and 3.2-percent growth in the first and second quarters, respectively.

It also reversed a 1.6-percent contraction in the first half (H1) of the year, up 0.7 percent year on year in the first three quarters.

Major economic indicators showed further rebounds in Q3. The industrial output rose 5.8 percent year on year. Retail sales of consumer goods registered the first quarterly expansion this year, up 0.9 percent. Fixed assets investment and foreign trade also saw first year-on-year