China’s economy grew 4.5% year on year in the third quarter of 2026, beating forecasts and its previous quarter’s pace, but a property slump and weak domestic demand continued to cloud the recovery.
The National Bureau of Statistics said output rose 1.2% from the previous quarter; growth for January through September reached 4.6%, within the government’s full-year target range of 4.5% to 5%. Exports and manufacturing helped support the rebound, with strong overseas demand for technology goods contributing to growth. September industrial output increased 5.5% from a year earlier, while retail sales rose 1.1%, up from 0.4% in August but still a modest gain.
Investment figures showed the strain at home: fixed-asset investment fell 7.2% in the first nine months, and property investment dropped 20.6%. The better-than-expected GDP result may ease pressure on Beijing to roll out broader stimulus immediately, but it does not signal a broad-based recovery. With consumers and private investors still cautious, and trade tensions posing risks to exports, sustaining growth remains a challenge.