China's Q3 Growth Rate at 4.6%... Red Light for '5% Growth' Goal

On the 18th, the National Bureau of Statistics of China announced that the country's Gross Domestic Product (GDP) growth rate for the third quarter of this year recorded 4.6%.

This figure slightly exceeds the market forecast of 4.5% compiled by Bloomberg, but analysts suggest that a red flag has been raised regarding the Chinese government's target of around 5% economic growth for this year. The Chinese economy grew by 4.9% in the third quarter of last year, 5.2% in the fourth quarter, and 5.3% in the first quarter of this year, before slowing down from the second quarter (4.7%) of this year. The growth rate for the first to third quarters of this year was calculated at 4.8%.

Since the end of September, China has been announcing a series of stimulus measures across various sectors. Experts point out that in order to achieve China's 5% economic growth target, measures to boost consumption need to be implemented.

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