China's economy maintained overall stability and kept major economic indicators within the expected target ranges in the first three quarters of this year, with experts highlighting its strong resilience driven by emerging new momentum and new quality productive forces.
An expert from the National Development and Reform Commission (NDRC) said the latest figures showed an economy that has withstood pressure and maintained overall stability, while new quality productive forces and new growth drivers are growing rapidly.
"In the first three quarters of this year, China's economy forged ahead despite pressures and maintained overall stability, with major economic indicators remaining within the expected target ranges. It showed a development trend marked by growing new growth drivers, improved structure, and better quality and efficiency, demonstrating strong resilience. New quality productive forces and new growth drivers, represented by high-tech manufacturing, modern services, and the intelligent economy, grew rapidly, showing features of fast growth, strong investment, high efficiency, and a sound market, and forming a virtuous cycle from production and investment to exports and consumption," said Huang Hanquan, director of the Macroeconomic Research Institute under the NDRC.
A researcher pointed out that steady growth in manufacturing and exports had anchored the macroeconomy, while high-tech industries showed robust supply and demand.
"Sectors like manufacturing and exports have played a powerful supporting role in ensuring the stable operation of the macroeconomy. Furthermore, new quality productive forces are being cultivated at an accelerated pace, with high-tech manufacturing and industries showing robust momentum in both supply and demand," said Wei Qijia, a researcher at the State Information Center under the NDRC.
In addition, the rapid adoption of cutting-edge technologies like AI, along with growing capital investment, are shaping the future industrial landscape ahead of time, said a scholar.
"The adoption rate of AI among manufacturing enterprises above the designated size has exceeded 30 percent. In the third quarter, capital investment in fields such as AI and humanoid robots expanded 1.8-fold year on year. These research and development investments are shaping the future industrial landscape ahead of time," said Wei Chu, dean of the School of Applied Economics at Renmin University of China.
Chinese economy demonstrates resilience, optimization in first three quarters: experts
