China's economy may achieve its target growth target at the beginning of this year

Abstract According to the latest data released by China's National Bureau of Statistics, China's GDP grew by 7.8% in the third quarter, marking the highest growth rate among the past three quarters. On a month-over-month basis, the economy expanded by 2.2%, while the cumulative growth for the first three quarters reached 7.7%. Analysts suggest that this consistent performance in the fourth quarter of the previous year has set a solid foundation for meeting the annual growth target that was initially set at the start of 2013.

Looking at the overall performance of the first three quarters, the Chinese economy can be described as "stable and rising, steady and positive." The first quarter saw a 7.7% increase, followed by 7.5% in the second quarter, and 7.8% in the third. The fluctuations between quarters were minimal, showing no major ups or downs. More importantly, with clear macroeconomic policies from the central government, social expectations have remained stable, and businesses are more enthusiastic about development. The PMI has shown growth for three consecutive months, signaling improved confidence in the manufacturing sector.

From an industrial perspective, emerging sectors are growing at a much faster pace compared to traditional industries. Particularly notable is the rapid expansion of modern service industries such as e-commerce and online retail. In the first three quarters, the tertiary industry grew 0.6 percentage points faster than the secondary industry, and its share of GDP increased by 0.2 percentage points compared to the first half of the year. This shift highlights a continued structural transformation in the Chinese economy, with services playing an increasingly important role in driving growth.