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China’s economy grew 4.8% in the third quarter, in line with forecasts, even as an ongoing property slump weighed on investment. Fixed-asset investment fell 0.5% in the first nine months—its first contraction since 2020—with property investment down 13.9%. Pinpoint Asset Management’s Zhiwei Zhang called the drop “rare and alarming,” warning of pressure on fourth‑quarter growth. September data were mixed: retail sales rose 3% but slowed from August; industrial output jumped 6.5%, beating expectations; exports stayed resilient. Core inflation quickened while headline prices fell 0.3%. Benchmark lending rates were kept unchanged.

Prepared by Christopher Adams and reviewed by editorial team.