China's economy grew 4.5 percent year on year in the third quarter, beating expectations as strong exports offset weak domestic demand, according to data from the National Bureau of Statistics released on Monday.
Growth in July to September was up from 4.3 percent in the second quarter and above a forecast of about 4.4 percent. Growth for the first nine months of the year reached 4.6 percent, keeping the economy within Beijing's full-year target of 4.5 to 5 percent.
The expansion was driven by exports and high-tech manufacturing, including AI-related chips and electronics. Domestic demand remained soft, in what analysts describe as a two-speed economy. Fixed-asset investment fell 7.2 percent in January to September, while property investment fell 20.6 percent.