China GDP grows as expected in Q3, remains below 5% annual target
Investing.com-- The Chinese economy grew as expected in the third quarter, gross domestic product data showed on Friday, although the economy’s pace of growth remained below Beijing’s annual target.grew 4.6% year-on-year in the three months to September 30 in line with expectations but slowing from the 4.7% seen in the prior quarter.Beijing announced a string of stimulus measures in the past three weeks, marking China’s most concentrated efforts yet to shore up sluggish economic growth.
Recent stimulus, however, sparked mixed sentiments towards the economy, given that Beijing did not provide key details on the timing and scope of the planned measures. Still, the Chinese government said the economy remained on track to achieve its 5% annual target. The government also announced targeted measures to support the property market, as well as plans to improve the debt positions of local governments.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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