China's third-quarter GDP grew 4.5% as AI exports increased

China's GDP grew 4.5% year-on-year in the July-September quarter, according to the National Bureau of Statistics, reported by BBC. This figure exceeded the 4.4% expectation of Reuters-polled economists, according to CNBC. It was higher than the 4.3% growth recorded in the second quarter, according to CNBC.

Exports rose by more than a third in September, according to The Guardian. This contributed to a record monthly trade surplus of $133.5 billion, according to CNBC. BBC reported that sales of high-tech goods rose 14.3% and production of batteries and industrial robots grew by more than 29%.

Industrial production grew 5.5% in September, while retail sales increased 1.1%, according to The Guardian. Fixed-asset investment in urban areas declined 7.2% in the first nine months of the year, according to CNBC. Property investment fell 20.6% during the same period, according to CNBC.

In September, Beijing introduced lower interest rates for some businesses and subsidies for property buyers, according to BBC. BBC reported that some parties expressed concerns over the billions of dollars spent on AI infrastructure and whether those investments will generate profits.

Sheana Yue of Oxford Economics stated that the property slump limits the impact of industrial activity on the wider economy, according to CNBC. Eswar Prasad, a professor at Cornell University, stated that domestic imbalances between supply and demand continue to rise, according to CNBC.