China 3Q GDP growth rebounds at faster pace but risks loom

BEIJING: China’s economy rebounded at a faster-than-expected pace in the third quarter, but strict Covid curbs, a deepening property crisis and global recession risks are challenging Beijing’s efforts to foster a robust revival over the next year.

Gross domestic product (GDP) in the world’s second-biggest economy rose 3.9% in the July-September quarter year-on-year, official data showed yesterday, above the 3.4% pace forecast in a Reuters poll of analysts, and quickening from the 0.4% pace in the second quarter.