Japanese Media: High-Tech Industries Drive China’s GDP Growth in July–September
A report by Japan’s Yomiuri Online on October 19 stated that preliminary data for China’s GDP growth in the period from July to September 2026 showed a year-on-year increase of 4.5% in real terms, excluding the impact of price fluctuations. This marks a slight improvement from the 4.3% growth recorded in the April–June quarter, achieving the full-year average target range of 4.5% to 5.0% for 2026. The figure also surpassed Reuters’ forecast of 4.4%.
Exports performed strongly. While domestic demand remains weak, export growth has been supported by the high-tech sector, which has benefited from the global acceleration of artificial intelligence (AI) development and rising demand for new energy vehicles.
Reduced tensions in U.S.-China trade relations have also contributed to stronger export performance. Industrial production rose 5.5% year-on-year in September.
Meanwhile, domestic demand continues to face headwinds due to sluggish property prices and rising fuel costs driven by deteriorating conditions in the Middle East. Personal consumption growth remained subdued. Retail sales increased by 1.1% in September, a significant decline from the 3.0% rise observed during the same period last year. Sales of durable goods such as automobiles and household appliances have stagnated, with some analysts suggesting that domestic stimulus measures like “trade-in” programs are losing effectiveness.
Original article: toutiao.com/article/1879449063737408/
Disclaimer: The views expressed in this article are those of the author alone.