China’s National Bureau of Statistics reported third-quarter GDP growth of 4.6% year on year, slightly exceeding expectations but less than the second-quarter growth. Other data, such as retail sales and industrial production, also beat expectations, indicating positive signs for the economy. Beijing has faced scrutiny over meeting its growth target of around 5%, but with 4.8% growth in the first three quarters, the target is within reach with extra stimulus in Q4. Chinese officials have announced support measures to boost the economy, including cutting banks’ cash requirements and increasing debt and deficit. The Housing Ministry is expanding real estate projects and speeding up bank lending to 4 trillion yuan by the end of the year. Despite challenges, there is optimism for growth in the coming years as the government is committed to shoring up the economy.
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