21 October 2021, Thursday, 18:18

China's GDP expands 9.8 pct in first three quarters

Cargos are unloaded from a container ship at the container terminal of the Lianyungang Port in Lianyungang City, east China's Jiangsu Province. Photo by Xinhua/Wang Jianmin.

China's economy continued stable recovery in the first three quarters of this year with major indicators staying within a reasonable range, official data showed, The Xinhua News Agency reported.

The country's gross domestic product (GDP) expanded 9.8% year on year in the first three quarters, putting the average growth for the period in the past two years at 5.2%, data from the National Bureau of Statistics (NBS) showed.

In the third quarter (Q3), the country's GDP grew 4.9% year on year, slower than the growth of 18.3% in Q1 and 7.9% in Q2.

Other major economic indicators showed continued improvements across the board, with retail sales of consumer goods jumping 16.4% year on year in the first three quarters this year.

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China's value-added industrial output went up 11.8% year on year in the first three quarters, while fixed-asset investment went up 7.3% year on year during the period.

The country's surveyed urban unemployment rate stood at 4.9% in September, 0.5 percentage points lower than the same period last year, NBS data showed.