China’s National Bureau of Statistics released latest financial data on Friday, showing that the country’s Gross Domestic Product (GDP) grew by 4.6% year-on-year in the September quarter, the lowest growth in the past six quarters.

According to the Bureau, GDP for the first three quarters of this year was RMB94.97 trillion (US$13.3 trillion), up 4.8% year-on-year increase in constant prices, while actual GDP grew by 4.6%. Although growth slowed, it beat market expectation of a 4.5% increase.

China’s GDP grew at annualised rates of 5.3% and 4.7% in the first and second quarters of 2024.