China's economy demonstrated robust growth in 2024, expanding by 4.8 percent year on year during the first three quarters. This impressive performance was highlighted by September's industrial output and retail sales, both of which exceeded analysts' forecasts.
The data released by the National Bureau of Statistics (NBS) on Friday underscores China's resilience amid global economic uncertainties. The stronger-than-expected industrial output suggests a thriving manufacturing sector, while the surge in retail sales indicates increasing consumer confidence and spending.
Experts attribute this growth to a combination of effective economic policies, increased domestic consumption, and a rebound in global demand for Chinese goods. As China continues to navigate the complexities of the international market, these positive indicators provide a hopeful outlook for sustained economic momentum in the coming months.
This growth not only bolsters China's position as a key player in the global economy but also offers potential opportunities for international businesses and investors looking to engage with one of the world's largest and most dynamic markets.
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Graphics: China's consumption, factory output beat forecasts
cgtn.com
