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10/19/2020, 4:09 AM (Source: TeleTrader)
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China's GDP grows 4.9% on annual basis in Q3

The gross domestic product (GDP) of China rose by 4.9% year-on-year in the third quarter of 2020, according to a report released by the country's National Bureau of Statistics (NBS) on Monday.

The data showed goods and services produced by Beijing went under the estimated numbers with the value-added of the primary industry landing at ¥ 4,812.3 billion, increasing 2.3% on an annual basis, while the secondary industry rose by 0.9% to reach ¥27,426.7 billion, as the tertiary industry went up by 0.4% to ¥40,039.7 billion.

Compared to the figure seen in the second quarter of the year, the GDP decreased by 3.2 percentage points, while for the first nine months of the year the gross domestic product saw a decline of 6.8% to stand at ¥72,278.6 billion.

Breaking the News / NL