China\u2019s economy recorded an expansion of 4.6% in the third quarter of 2024, compared to the same period last year, as reported by the National Bureau of Statistics on Friday.<\/strong><\/p>\n
This growth reflects a positive trajectory for the nation\u2019s economic landscape.<\/p>\n
For the first nine months of the year, China’s gross domestic product (GDP) rose by 4.8%, indicating steady economic progress, according to the bureau.<\/p>\n
The official report emphasized the overall stability of the national economy, citing improvements in production and demand, as well as stable employment levels and prices.<\/p>\n
Additionally, there were noted enhancements in the quality of life for citizens, alongside solid advancements in high-quality development and the emergence of new productive forces.<\/p>\n
In terms of sector-specific performance, agriculture experienced a year-on-year value-added increase of 3.7% in the first three quarters, while industrial enterprises saw a growth of 5.8%. The services sector also marked progress, with its value-added rising by 4.7% during the same timeframe.<\/p>\n
Retail sales of consumer goods increased by 3.3% year-on-year in the initial three quarters, reflecting consumer confidence. Moreover, the total value of imports and exports of goods rose by 5.3%, showcasing China’s robust trade activity.<\/p>\n
On the inflation front, the consumer price index (CPI) recorded a modest increase of 0.3% in the first nine months when compared to the same period last year, indicating a stable price environment overall.<\/p>\n","protected":false},"excerpt":{"rendered":"
China\u2019s economy recorded an expansion of 4.6% in the third quarter of 2024, compared to the same period last year, as reported by the National Bureau of Statistics on Friday. This growth reflects a positive trajectory for the nation\u2019s economic landscape. For the first nine months of the year, China’s gross domestic product (GDP) rose<\/p>\n","protected":false},"author":17,"featured_media":37054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[17636,14222,1358],"class_list":["post-37053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-chinas-economy","tag-national-bureau","tag-nigeria21-com"],"yoast_head":"\n