STORY: Chinese economy maintains upward trend in Q3, braces for stronger momentum
SHOOTING TIME: Oct. 18, 2024
DATELINE: Oct. 18, 2024
LENGTH: 00:00:38
LOCATION: Beijing
CATEGORY: ECONOMY

SHOTLIST:
1. various of China
2. SOUNDBITE (Chinese): SHENG LAIYUN, Deputy head of National Bureau of Statistics

STORYLINE:

China's gross domestic product (GDP) grew 4.8 percent year on year in the first three quarters of 2024, data from the National Bureau of Statistics (NBS) showed Friday.
   
The GDP reached around 94.97 trillion yuan (about 13.33 trillion U.S. dollars) in the January-September period, NBS data showed.
   
In the third quarter, the economy expanded 4.6 percent year on year and went up 0.9 percent on a quarterly basis, according to the NBS.
   
SOUNDBITE (Chinese): SHENG LAIYUN, Deputy head of National Bureau of Statistics
"In the first three quarters of 2024, the Chinese economy has posted generally stable performance. In September, most indicators on production and demand improved and market expectations also became better. And the positive factors driving the recovery of the national economy increased."

In a breakdown, industrial output climbed 5.8 percent compared with a year earlier in the first nine months, as robust increases were seen in equipment and high-tech manufacturing industries. The service sector reported continued recovery with a 4.7-percent increase in added value.
   
Consumption maintained an upward trend during the period with retail sales of consumer goods up 3.3 percent from a year ago. Fixed-asset investment rose 3.4 percent, spurred by vibrant capital influx into high-tech industries.
   
The job market was stable as the surveyed urban unemployment rate on average stood at 5.1 percent in the first three quarters, down from 5.3 percent a year ago. The nominal growth of urban and rural residents' incomes came in at 5.2 percent.

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)