Opinion: The Worst for China’s Economy This Year Is Behind Us

China’s GDP grew 4.9% year-on-year in the third quarter, surpassing market expectations. Sequentially, it expanded 1.3%, beating the previous three-month period by 0.8 percentage points. This signals that the most challenging period for the economy this year has passed.

The road to this point has been rocky. Despite the economy experiencing a surge in demand and a brief reprieve in the real estate sector in the first quarter following the scrapping of Covid restrictions, economic pressure mounted in the second quarter, largely due to a cooling property market and subdued exports.