In the third quarter, China’s Gross Domestic Product (GDP) was up 4.5% compared to the same period last year and by 0.2 percentage points compared with Q2. The national economy’s growth has been driven by a boom in exports, fuelled by artificial intelligence and demand for semiconductors and other technology-related goods.
Exports increased by 16% in the first nine months of the year, reaching $3.47 billion. Sales of high-tech goods rose by 14.3%, whilst production of batteries and industrial robots shot up 29%. With exports on the rise, China’s trade surplus (the difference between the value of goods sold abroad and those purchased from other countries) could exceed last year’s record figure of $1,200 billion.
Translation by Giles Foster