China economy slowed to 4.8% in last quarter
HONG KONG—China’s economy expanded at the slowest annual pace in a year in July- September, growing 4.8 percent, weighed down by trade tensions with the United States and slack domestic demand.
The July-September data was the weakest pace of growth since the third quarter of 2024, and compares with a 5.2 percent pace of growth in the previous quarter, the government said in a report on Monday.
In January-September, the world’s second largest economy grew at a 5.2 percent annual pace. Despite US President Donald Trump’s higher tariffs on imports from China, the country’s exports have remained relatively strong as companies shifted their sales to other world markets.
Also on Monday, Chinese leader Xi Jinping delivered a speech on the opening day of a major meeting of the ruling Communist Party to approve a draft plan laying out its goals for the country over the next five years.
A short dispatch from the official Xinhua News Agency said Xi “expounded on the Party leadership’s draft proposals” for the next five-year plan for national economic and social development, which will cover 2026-2030. It did not provide any details.
The latest plan comes at a time of growing challenges and uncertainty for China, including a persistently sluggish economy, foreign restrictions on its access to the latest technologies and high tariffs imposed on its exports to the United States.
