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MNI BRIEF: China Confident 5% GDP Target On Track - NBS

MNI (BEIJING)
MNI (Beijing)

Chinese officials believe the country's economy can achieve the 5% GDP growth target, given the strong foundation established in the first three quarters of the year, according to Sheng Laiyun, spokesperson for the National Bureau of Statistics (NBS).

The Chinese economy grew by 4.9% y/y in Q3, beating market expectations of 4.5%, as production and consumption rebounded more than expected, despite weakness in real estate continuing to drag down investment. (See: MNI BRIEF: China Q3 GDP Beats Expectation To Rise 4.9% - Bonds & Currency News | Market News)

Despite the third quarter showing stronger than expected growth, Sheng said authorities must monitor the situation to ensure positive momentum can be maintained as domestic demand remained insufficient.

MNI reported this week China's GDP print would beat expectations. (See MNI INTERVIEW: China GDP To Beat Expectations- Ex PBOC's Sheng)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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