September, official data showed, its slowest pace since early 2023 and below the 4.7% pace in the second quarter, as a tumbling property sector remained a major challenge for Beijing.

China's economy grew at the slowest pace since early 2023 in the third quarter, and though consumption and industrial output figures for last month beat forecasts a tumbling property sector remains a big challenge for Beijing as it tries to boost growth.

China's economy grew by 4.6 percent in the July-to-September period from a year earlier, but the pace of expansion was less than in the previous quarter.

According to the GSU, China's GDP growth rate in 2022 reached 3%, and in 2023 - 5.2% (126.05 trillion yuan, or about $17.7 trillion). The official target for 2024 is set at 5%.

Consumption and factory output figures beat forecasts, but a tumbling property sector remains a major challenge as Beijing races to revitalise growth.

China’s economic growth slowed in the third quarter, trending below Beijing’s annual growth target but beating market expectations.

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China's economy grew slightly quicker than expected in the third quarter, but a prolonged property downturn and weak consumption remain a drag on activity, maintaining pressure on policymakers as they consider more stimulus steps to revitalise growth.