Growing With Resilience
Despite a number of challenges, including power shortages, the resurgence of COVID-19 cases, floods and rising prices of bulk commodities, China saw higher-than-expected economic growth in the first three quarters of 2021, with improving employment and enhancement of people’s wellbeing, the National Bureau of Statistics (NBS) announced on October 18.
According to NBS data, GDP reached 82.31 trillion yuan ($12.8 trillion) in the January-September period, up 9.8 percent year on year. The figure is above the annual growth target of over 6 percent. In the third quarter (Q3), the economy expanded 4.9 percent, down from 18.3 percent and 7.9 percent in the first and second quarters, respectively.
Though the economic growth over the first three quarters slowed down in comparison with that in
