China’s National Bureau of Statistics reported third-quarter GDP growth of 4.6% year on year, slightly exceeding expectations but less than second-quarter growth. Other data such as retail sales and industrial production also beat expectations, indicating positive signs for the second-largest economy. Despite challenges in meeting the annual growth target of around 5%, analysts believe the target is within reach with additional stimulus in the fourth quarter. The government has announced support measures to boost the economy, including cutting bank reserve requirements and increasing debt and deficit. The Housing Ministry plans to expand a “whitelist” of real estate projects and speed up lending for unfinished developments to stimulate growth. Overall, there is optimism for growth in the coming years as the government remains committed to supporting the economy.
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