Logo of Phnom Penh Post newspaper Phnom Penh Post - NBS: China’s GDP grows 4.9% in Q3

NBS: China’s GDP grows 4.9% in Q3

Content image - Phnom Penh Post
An employee works at an aluminium alloy plant in Wuxing district of Huzhou city, East China's Zhejiang province, July 29, 2020. AFP

NBS: China’s GDP grows 4.9% in Q3

China's economy grew by 4.9 per cent year-on-year in the third quarter of the year, versus 3.2 per cent in the second one, the National Bureau of Statistics (NBS) said on Monday.

The country’s gross domestic product (GDP) growth reached 0.7 per cent year-on-year over the first three quarters of this year, turning positive from negative 1.6 per cent in the first half, the NBS said.

The Chinese economy posted a continuous recovery in the first nine months and achieved significant results in coordinating development with epidemic prevention, the bureau said in a statement.

The growth in fixed-asset investment came in at 0.8 per cent during the January-September period, turning positive for the first time this year and compared with a 3.1 per cent slide in the first six months.

Retail sales increased by 3.3 per cent year-on-year last month, sharply up from 0.5 per cent in August.

The country registered a 6.9 per cent industrial output growth last month, compared with 5.6 per cent in August.

Surveyed urban unemployment rate nationwide was 5.4 per cent last month, down from 5.6 per cent in August.

The NBS, however, noted that external uncertainties and the risk of epidemic resurgence domestically remain.

It said: “The economy is still in the process of recovery, and the foundation for sustained recovery needs to be consolidated.”



  • Without shoes or a helmet, a young cyclist steals the show

    Pech Theara gripped the curved handlebars of his rusty old bike, planted his bare feet on its pedals and stormed as fast as he could towards the finish line. The odds were against him as the 13-year-old faced off against kids with nicer bikes at

  • Phnom Penh-Sihanoukville expressway on schedule

    The construction of the more than $1.9 billion Phnom Penh-Sihanoukville Expressway has not been delayed despite the Covid-19 pandemic, with more than 26 per cent of the project completed and expected to finish in about two years, according to Ministry of Public Works and Transport secretary of

  • Singapore group seeks $14M in damages from PPSP over ‘breach of contract’

    Singapore-based Asiatic Group (Holdings) Ltd is seeking a minimum of $14.4 million relief from Cambodia Securities Exchange (CSX)-listed Phnom Penh Special Economic Zone Plc (PPSP) for allegedly breaching a power plant joint venture (JV) agreement. Asiatic Group’s wholly-owned Colben System Pte Ltd and 95 per

  • Over 110 garment factories close

    A government official said on November 22 that at least 110 garment factories had closed in the first nine months of the year and left more than 55,000 workers without jobs – but union leaders worry those numbers could be much higher. Ministry of Labour and Vocational Training undersecretary

  • PM dispels lockdown rumours, gifts masks

    Prime Minister Hun Sen on November 12 denied rumours that he will lock down the country in response to increased Covid-19 fears, referring to them as propaganda aimed at destabilising the country. In a Facebook post, he said some people had spread rumours that the government

  • SilkAir adds flight to Phnom Penh schedule

    Silkair (Singapore) Pte Ltd is increasing its flight frequency between Phnom Penh and Singapore with a third weekly flight on Saturdays, according to Cambodia Airports’ Facebook page. The other flights offered are on Tuesdays and Sundays, with an estimated Phnom Penh arrival time at 5:35pm