ECONOMY

China’s Third-Quarter GDP Grows 4.8%, Meeting Expectations

Published: Oct. 20, 2025 10:05 a.m. GMT+8

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China’s GDP grew 4.8% year-on-year in the third quarter, on par with market expectations, official data show.

The growth rate, announced Monday by the National Bureau of Statistics (NBS), matches the average estimate from a Caixin survey of economists.

It marks a further slowdown from the previous quarter, when growth slowed to 5.2% following an expectation-beating first three months. This takes growth for the first nine months to 5.2%.

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Explore the story in 30 seconds

China’s GDP grew 4.8% year-on-year in Q3, matching expectations, down from 5.2% in Q2.
Key indicators: industrial production up 6.5% in September, retail sales up 3%, property investment down 13.9% for the first nine months.
Growth faces risks from U.S.–China trade tensions, weak domestic demand, and a sluggish property market.

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