Robotic arms produce robots at a factory of Estun Automation in Nanjing, East China's Jiangsu Province. Photo: VCG

The Chinese economy has always grown stronger by facing up to the challenges. Although the growth momentum eased to some extent in the third quarter (Q3), the fundamentals have remained stable and solid, said a spokesperson from the National Bureau of Statistics (NBS) on Monday.

Speaking at a press briefing, the official was asked how he would gauge Q3 performance and whether China could reach its full-year growth target. Preliminary data showed GDP expanded 4.8 percent year-on-year in the third quarter, down 0.4 percentage points from Q2, but still solid for an economy of China's size, said the NBS spokesperson.

China's gross domestic product (GDP) expanded by 5.2 percent in the first three quarters of 2025, the NBS data showed on Monday. From July to September, the country's GDP rose by 4.8 percent year-on-year, which is a 0.4-percentage point drop from the second quarter, according to the NBS.

Despite the slowdown, the momentum of steady economic growth remains unchanged. The country's 4.8 percent growth rate in the third quarter was still significantly higher than that of most of the world's major economies, a remarkable achievement for an economy of this massive size, the spokesperson said on Monday.

This was primarily due to "a complex and severe external environment" as well as the significant pressure on domestic structural adjustment, the spokesperson noted.

Slowdown in the GDP growth in the third quarter was the result of a combination of some factors. Rising global trade frictions and growing protectionism have ramped up global economic uncertainty, while China's ongoing structural adjustments and the economy's transition from old to new growth drivers have produced some short-term "growing pains," said the NBS spokesperson.

Despite the slowdown, the economy remains robust by major‑economy standards. Third‑quarter GDP reached 35.5 trillion yuan, exceeding the 2024 yearly economic output of the world's third‑largest economy, said the spokesperson.

And, China's employment and price indicators have been largely stable: the surveyed urban unemployment rate in the third quarter was unchanged from a year earlier, core CPI has kept to edge up, and the decline in producer prices (PPI) narrowed for a second consecutive month in September. The country's trade resilience was also highlighted, with goods imports and exports up 6.0 percent year-on‑year in the third quarter, according to the NBS data. 

The NBS spokesperson noted that the country's shift toward a high-value economy is picking up speed, indicating of faster structural upgrading. High-end manufacturing and modern services continued to outpace the broader industrial sector. Production of green, advanced products — including industrial and service robots, 3D printers and rail vehicles — registered strong gains.

Looking ahead, the NBS said there are still many favorable conditions for achieving the expected annual economic goals set for 2025.

First, the 5.2-percent GDP growth recorded in the first three quarters provides a solid foundation for the rest of the year. Second, the rapid development of "new quality productive forces" — led by constant tech innovation and the accelerating commercialization of artificial intelligence and other technologies — is creating new drivers of growth. Third, macroeconomic policy has been proactively supportive. 

The manufacturing purchasing index (PMI) has rebounded for two consecutive months in September, indicating business operations and consumer activity continued to rise during the National Day and Mid-Autumn Festival holidays in early October. According to official data, 888 million domestic passenger trips were made during the 8-day holidays, while mass-participation sports, concerts, and music festivals played to packed crowds, all of which demonstrated the resilience and vitality of China's economy.

The latest data released on Monday showed that China's economic growth remains within a reasonable range. Despite a modest slowdown in the third quarter, the underlying fundamentals of the Chinese economy remain solid, said Li Changan, a professor at the Academy of China Open Economy Studies under the University of International Business and Economics, on Monday. 

"Growth has moderated slightly, but the broad upward trajectory is unchanged, and momentum is still in the medium-to-high speed bracket," said Li. "The basic economic picture has not changed and remains aligned with market expectations."

Li told the Global Times that the government's package of largely expansionary measures have had a positive impact, boosting consumption. But, investment, however—one of the three key growth engines —remains comparatively weak. The next round of policy support should focus on stabilizing public expectations and restoring business confidence, Li said.

Despite challenges, China is on course to meet its full-year growth target of around 5 percent in 2025, Li noted. As 2025 is the final year of the 14th Five-Year Plan period (2020-2025), this growth is expected to lay a solid foundation for the launch of the 15th Five-Year Plan starting next year, Li said.


Global Times