China: 4.6% GDP Growth in First Three Quarters of This Year

China announced on Monday that its gross domestic product (GDP) for the first three quarters of this year reached 107.1 trillion yuan (approximately 16.03 trillion US dollars), representing an annual growth rate of 4.6 percent.

Xinhua News Agency quoted Mao Shengyong, deputy director of the National Bureau of Statistics of China, as saying during a press conference held by the Information Office of the State Council that the national economy withstood pressures, maintaining stable performance amid renewed growth drivers and an improved economic structure during the first nine months.

Mao noted that production and supply experienced relatively rapid growth, while foreign trade maintained solid momentum. Employment and prices remained generally stable, and measures to safeguard citizens’ livelihoods yielded tangible results, demonstrating the resilience and vitality of the Chinese economy.

He pointed out that China’s total imports and exports of goods reached approximately 40 trillion yuan (about 6 trillion US dollars), an increase of 18.8 percent. Export value rose by 16.4 percent, while import value grew by 22.3 percent.

China’s GDP grew by 5 percent in the first quarter of this year, by 4.3 percent in the second quarter, and by 4.5 percent in the third quarter.

China had set an economic growth target for 2026 at between 4.5 and 5 percent.