China's economy expanded more than expected in the third quarter underpinned by policy support, suggesting that Beijing is all set to achieve its around 5 percent growth target this year as the property market downturn remains the only major drag on growth.
Gross domestic product posted an annual growth of 4.9 percent in the third quarter, the National Bureau of Statistics said on Wednesday. The rate exceeded the 4.4 percent that economists had penciled in.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.