China's economic growth slowed in the three months to the end of September as trade tensions with the US flared up. The world's second-largest economy grew by 4.8% compared to the same period in 2024, its weakest pace in a year, official figures released on Monday show. This downturn coincides with China's recently imposed controls on the export of rare earths, minerals critical for electronic productions, disrupting its tentative trade peace with the US.
The gross domestic product (GDP) growth in the third quarter sets the stage for a summit of China's top leaders, who will discuss the nation's economic direction from 2026 to 2030. The 4.8% growth marks a decrease from 5.2% in the previous quarter, as highlighted by China's National Bureau of Statistics, which stated the economy displayed strong resilience and vitality despite facing challenges.
The government aims for around 5% growth this year, aided by supportive measures, as President Donald Trump has reacted swiftly with threats of further tariffs on Chinese imports. Meanwhile, US Treasury Secretary Scott Bessent anticipates meeting Chinese officials in Malaysia to ease tensions and potentially arrange talks between Trump and Xi Jinping.
Despite the economic slowdown, Chinese businesses benefitted from earlier trade agreements, boosting exports by 8.4% in September. Furthermore, the country’s industrial sector recorded a 6.5% growth last month, showcasing strong performances from its 3D printing, robotics, and electric vehicle industries.
The gross domestic product (GDP) growth in the third quarter sets the stage for a summit of China's top leaders, who will discuss the nation's economic direction from 2026 to 2030. The 4.8% growth marks a decrease from 5.2% in the previous quarter, as highlighted by China's National Bureau of Statistics, which stated the economy displayed strong resilience and vitality despite facing challenges.
The government aims for around 5% growth this year, aided by supportive measures, as President Donald Trump has reacted swiftly with threats of further tariffs on Chinese imports. Meanwhile, US Treasury Secretary Scott Bessent anticipates meeting Chinese officials in Malaysia to ease tensions and potentially arrange talks between Trump and Xi Jinping.
Despite the economic slowdown, Chinese businesses benefitted from earlier trade agreements, boosting exports by 8.4% in September. Furthermore, the country’s industrial sector recorded a 6.5% growth last month, showcasing strong performances from its 3D printing, robotics, and electric vehicle industries.
