Oct 20, 2015
The market had expected GDP growth to come in at 1.7 per cent on a quarterly basis, compared to a revised reading of 1.8 per cent the prior quarter.
As the world's biggest exporter, China devours raw materials to make everything from steel tubes to plastic toys, but its service and consumer-goods sectors tend to import less.
"Overall, today's data point to a few signs of stabilisation in the Chinese economy", it said.As he embarked on key visit to Britain, Chinese President, Xi Jinping told British media that the slowdown is new normal.
The pace of investment in railways saw a sharp drop to 1.8 per cent from 9.9 per cent in the first eight months.
A few analysts had been hopeful that the third-quarter slowdown could mark the low point for this year as a burst of stimulus measures rolled out by Beijing comes into force in coming months, but muted monthly data for September kept such optimism in check.
The government has set a goal of "around 7 percent" for 2015.
To be sure, China's new economy will throw up opportunities for trading partners as retail spending grows and services play a bigger role.
That is sitting inside the services sector.
Whether box office receipts are a better indicator than energy use remains to be seen, but both sides seem to see a need for verifying the official GDP claims.
A successful, smooth transition is the holy grail for the Communist Party.
NBS data were "man-made" and "for reference only", Li said.
"After three weeks of market gains, any disappointing earnings this morning could indicate that we could be in for a few profit-taking", said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
Near-term, this slight beat of estimates combined with the continued expectation for further easing from Beijing in the form of additional interest rate cuts and cuts to bank reserve requirements actually serves as a positive for the Chinese economy (and, in-turn, the rest of Asia). But at their September meeting, Fed policymakers made a decision to hold off on a rate hike: In part, they were too anxious about China's slowing economy and what it meant for the rest of the world.
"China's a much larger economy right now", said Lee.
China's imports shrank by 20.4 per cent last month from the same month in 2014 because of the drop in commodity prices and weaker domestic and global demand.
In an online broadcast by Yahoo Finance this month, a panel of experts discussed China's challenges and bilateral relations with the United States.
"Pressure will be ramping up on Beijing to implement more economic stimulus", said analyst Augustin Eden at trading firm Accendo Markets.
This helped finance an almighty construction boom: massive building projects, the world's fastest growing high speed rail network, more new airports than anywhere else on earth.
China's official press has shown frustration with the GDP debate.
China's economic growth has slowed down in the latest quarter, the slowest since early 2009 in the aftermath of the global crisis, latest data say.
Source: Flemingsburg Gazette