China's GDP rises in Q3

China's gross domestic product grew by 4.8 percent year-on-year in the third quarter following a 5.2 percent rise in the second quarter, the National Bureau of Statistics said on Monday.

In the first three quarters, China's GDP rose by 5.2 percent after a 5.3 percent growth in the first half of the year, the bureau said.

Figures released by the NBS showed China's industrial output, a gauge of activity in the manufacturing, mining and utilities sectors, increased by 6.5 percent in September from a year earlier after a 5.2 percent rise in August.

In the first three quarters, industrial output grew by 6.2 percent compared to the same period last year, while in the first half of the year, it rose by 6.4 percent from a year earlier.

Retail sales, a key measurement of consumer spending, increased by 3 percent year-on-year in September, down from the 3.4 percent growth in August.

In the first three quarters, retail sales rose by 4.5 percent compared to the same period last year, while in the first half of the year, they grew by 5 percent from a year earlier.

In the January-September period, fixed-asset investment, a gauge of expenditures on various elements, including infrastructure, property, machinery and equipment, decreased by 0.5 percent compared with a year earlier, following a 0.5 percent growth during the January-August period.

The surveyed urban jobless rate came in at 5.2 percent in September from 5.3 percent in August, according to the NBS.

The NBS stated that China's economy has maintained a generally stable and improving momentum in the first three quarters of the year, underpinned by continued policy efforts to stabilize employment and growth. The country's major macroeconomic indicators remained broadly stable, with notable progress made in promoting high-quality development.

Meanwhile, it cautioned that the economy still faces multiple risks and challenges as external uncertainties persist, saying the foundation for domestic economic recovery remains to be further consolidated.

Looking ahead, the NBS reaffirmed its commitment to promoting the effective implementation of policies aimed at maintaining stability in employment, business activity, markets and expectations.

ouyangshijia@chinadaily.com