China’s economy expanded 4.9 per cent year-on-year in the third quarter as industrial growth continues to power the country’s recovery from the coronavirus pandemic.
The expansion in gross domestic product missed expectations but was still well ahead of a 3.2 per cent increase in the second quarter and represented a sharp turnround from a historic decline at the start of the year.
The recovery in the world’s second-largest economy, which has been stoked by a state-backed industrial boom, now shows signs of extending to consumption at a time when global growth remains under severe pressure.
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