China’s gross domestic product grew 4.5% year on year in the third quarter of 2026, up from 4.3% in the second quarter, according to data released by the National Bureau of Statistics on October 19. Growth over the first nine months of the year reached 4.6%, within the government’s annual target range of 4.5% to 5%.
The data showed an economy still driven by exports and industry rather than household spending, according to Reuters. Industrial output rose 5.5% year on year in September, while retail sales grew just 1.1%. Fixed-asset investment fell 7.2% in the first nine months, and property investment fell 20.6%. Analysts warned that growing reliance on external demand is deepening structural imbalances. They also noted that trading partners are reacting: the EU, for example, is planning further measures after China’s trade surpluses with Germany and France rose sharply in September.