China's Q3 Growth Quickens to 4.5% on Export Surge

China's economy grew 4.5% from a year earlier in the July-September quarter, the National Bureau of Statistics said Monday. Strong exports of chips and electronics components drove the result.

• 4.3% growth last quarter was the lowest in more than three years.
• 4.6% growth for the first nine months of 2026.
• 4.5% is the bottom of Beijing's 4.5-5% annual growth target.
• 70% of Chinese household wealth is estimated to sit in property.

Why it matters: China is growing on exports while investment and consumer spending lag. Economists describe this as a two-speed economy.

• The housing downturn is in its fifth year.
• The IMF cut its 2026 China forecast from 4.6% to 4.5%.

How 11 sources split on this story

What’s next: Beijing has named expanding domestic demand its top priority for 2026. Last month it announced mortgage subsidies for first-time buyers and targeted rate cuts.

• The IMF lowered its 2027 China projection from 4.1% to 4%.
• Will Beijing go beyond limited stimulus to hit its annual growth target?
• How long will the US-China tariff truce hold?
• Can AI-driven export demand stay strong enough to offset weak domestic spending?