National Bureau of Statistics: Economic growth in the first three quarters reached 5.7 trillion yuan, the largest increase in five years

On October 19, Mao Shengyong, spokesperson and deputy director-general of the National Bureau of Statistics, stated at a press conference organized by the State Council Information Office that gross domestic product (GDP) for the first three quarters exceeded 107 trillion yuan, representing a year-on-year increase of 4.6%, in line with China's annual economic growth target. In terms of incremental growth, the economy added 5.7 trillion yuan in the first three quarters, marking the largest increase during the same period over the past five years. Mao noted that according to forecasts by some international institutions, a year-on-year growth rate of 4.6% keeps China leading among major global economies. Notably, GDP growth in the third quarter rose by 0.2 percentage points compared to the second quarter. While many international institutions predicted lower growth rates for the third quarter across major economies compared to the second, China's rebound of 0.2 percentage points makes its achievement particularly hard-won and commendable. (Securities Times)