China's economy showed signs of resilience in the third quarter, with GDP growth reaching 4.5% year-on-year, an improvement over the 4.3% recorded in the second quarter. This performance brings the growth rate for the first nine months of the year to 4.6%, positioning the country to meet its official annual target of 4.5% to 5% without the need for additional government stimulus measures.

The primary engine behind this growth is a significant increase in industrial production and exports. However, the data highlights a persistent imbalance in the Chinese economy: while factories are performing well, consumer spending remains lackluster. This divergence suggests that the current economic recovery is heavily reliant on external demand rather than domestic consumption. Economists note that while the headline growth figures are positive, the underlying weakness in household spending continues to be a point of concern for long-term stability.