China’s economy grew 4.5% in the third quarter compared with the same period a year earlier, as technology exports helped raise growth from the previous quarter despite weak consumer demand and a continuing property slump.
Official figures released Monday, October 19, showed growth from July to September was up from 4.3% in the second quarter. It was slightly above economists’ 4.4% forecast. The economy also grew 1.2% from the previous quarter, compared with 0.9% in April-June.
Demand for technology goods, including products related to the artificial-intelligence boom, helped support exports and factory activity. Growth over the first three quarters reached 4.6%. But the overall rebound hides an uneven recovery.
September retail sales rose just 1.1% from a year earlier. Fixed-asset investment fell 7.2% over the first nine months. Investment in real estate development dropped 20.6% during that period.
This added pressure from the property downturn. Beijing’s 2026 growth target is 4.5% to 5%. The latest figures put the economy near the lower end of that range.
The results offer some relief to policymakers. But continued reliance on overseas buyers means growth remains at risk. Growth could weaken if exports lose momentum before household spending and investment strengthen.