Overview
- The National Bureau of Statistics reported 4.8% year-on-year growth in Q3, with January–September GDP up 5.2%.
- Goldman Sachs lifted its 2025 forecast to 4.9% and said the around‑5% goal is largely on track, as other foreign banks also nudged up estimates.
- September exports rose 8.3% from a year earlier even as shipments to the United States fell 27% for the month.
- Beijing’s September support package—monetary easing and targeted housing measures—has yet to show clear effects, while the party plenum is outlining the next five‑year plan.
- An NBS spokesperson blamed tariff escalation for a tougher external environment, and President Donald Trump has pledged a 100% tariff on all Chinese imports starting next month, with a Trump–Xi meeting scheduled at the APEC summit in Seoul.