China's Q3 GDP growth accelerates to 4.5%, beating f'cast

China's economic ​growth rebounded to 4.5% ​year-on-year in the ‌third quarter, ​beating expectations and easing the pressure on policymakers to deliver more aggressive ‌stimulus measures to meet the annual target. Analysts polled by Reuters had forecast 4.4% growth in gross domestic product (GDP) ‌from the same period last year, an improvement from ‌the more-than-three-year low of 4.3% in the April-to-June period.

Aiming for 4.5%-5% growth for the whole year, China's top leaders had ⁠vowed ​to introduce ⁠effective new policies to support the economy as muted domestic demand ⁠and investment weighed on a broader recovery despite solid goods ​export performance. Authorities recently expanded support for home ⁠buyers and unveiled measures to steer cheaper credit into sectors including infrastructure ⁠and ​technology. They have refrained from releasing large-scale stimulus.

On a quarterly basis, GDP grew 1.2% in ⁠the third quarter, surpassing expectations for a 1.1% rise and ⁠compared with ⁠a 0.9% expansion in the previous quarter. ($1 = 6.6909 Chinese yuan)