PwC – China Economic Quarterly, Q3 2024

China's GDP grew by 4.

6% in the third quarter, slightly lower compared to previous quarters, but overall growth for the first three quarters reached 4.8%, nearing the annual target of 5%. China's economy began to stabilize by the end of the third quarter, particularly in industrial production and consumption. Consumption remains a weak spot in the economy despite improvements in other sectors. Exports continue to be strong, offsetting weak domestic demand. Significant economic stimulus measures have been introduced, including reductions in reserve requirements and interest rates, as well as programs to support local governments and the financial sector.