The latest official snapshot of the economy marks the start of a high-stakes week for China, as top leaders gather in Beijing at the so-called fourth plenum to hash out development plans for the next five years.
China said the economy is still on track to reach this year’s expansion target even after reporting the weakest growth pace in a year, with a boost from booming exports buffering a broad slowdown.
Gross domestic product expanded 4.8% from a year earlier in the three months through September, slightly exceeding economists’ forecast. The growth in the first three quarters laid a “solid foundation” for achieving the full-year growth goal of around 5%, the National Bureau of Statistics said in an Oct 20 statement.
