On October 20-22, by the banks of Shanghai's Huangpu River, the 2026 Sustainable Global Leaders Conference will once again take place. Nobel Prize and Turing Award winners will share their insights on the future and trends of technology, and the internet-famous professor who "rescues" people from anxiety and the era of involution — Macfarlane and Xiang Biao — will engage in a live dialogue!
Limited seats available, first come first served. Let us join together for the sustainable cause! [Click to register] Source: People's Daily Client
Just now, China's economic "Q3 report" was released: in the first three quarters, GDP grew by 4.6%. The Chinese economy is advancing steadily, continuing its trend toward new, better, and improved development, with confidence to meet the full-year targets.
A closer look at the data reveals steady growth in production and supply, brimming with new highlights. In the first three quarters, the value-added of industrial enterprises above designated size grew by 5.3% year-on-year, with manufacturing growing by 5.7%. Industry has remained stable with moderate growth — an commendable achievement. Currently, the global supply and demand landscape is undergoing profound adjustments, global energy supply remains tight, and prices of various industrial raw materials are soaring. Facing multiple challenges, China's industrial production has maintained relatively rapid growth, strongly supporting stable employment, stable enterprises, stable markets, and stable expectations.
Looking globally, in the first three quarters, China's equipment manufacturing industry contributed nearly 90% of export growth, with intermediate goods accounting for more than half of total export value, highlighting China's strength as a "stabilizing anchor" for industrial and supply chains. As Tesla CEO Musk said, China is the cornerstone of world manufacturing, and China is shouldering the world with its own shoulders.
Behind this, it is thanks to China's unwavering efforts to promote the transformation of growth drivers. In the first three quarters, the value-added of equipment manufacturing grew by 10.2% year-on-year, and the value-added of high-tech manufacturing grew by 14.3%, outpacing the overall value-added of industrial enterprises above designated size by 4.9 and 9.0 percentage points respectively. Adhering to the direction of intelligentization, greening, and integration, new quality productive forces are thriving, injecting confidence into China's economy.
While the complete industrial system is full of vitality, the enormous potential of domestic demand is also being continuously unleashed. Facing pressure on investment and consumption, macroeconomic policies have been intensified and made more effective, and localities have actively tapped potential and created results, forming a synergy for stabilizing investment and promoting consumption. In the first three quarters, investment in high-tech industries grew by 4.9% year-on-year, and total retail sales of consumer goods and services grew by 2.6% year-on-year.
Policies are being intensified. For example, relevant departments recently allocated the fourth batch of 62.5 billion yuan in ultra-long-term special government bonds this year to support consumer goods trade-in programs. In the first eight months, sales of trade-in-related goods reached 1.55 trillion yuan. Continuously unleashing the effectiveness of the package of fiscal and financial policies coordinated to boost domestic demand will help enhance market confidence and stimulate market vitality.
The Wall Street Journal published an article stating that at the end of the third quarter, China's economy showed clear signs of improvement, and China's demand remains strong. Ray Dalio, founder of Bridgewater Associates, recently expressed optimism about China's economic development prospects and opportunities.
Looking ahead to the full year, as consumption-boosting policies are expanded and intensified, the upgrading and quality improvement of the service industry is deepened, the construction of the "six networks" is successively implemented, and investment in people is increased, China's domestic demand potential will be further unleashed, and the endogenous growth momentum of the economy will become more enduring.
Comments