China's Economy: Stable Growth, More Stimulus

China's economy grew by 4. 6% in the third quarter, the slowest pace in six quarters. This news came with a surprise: the country's central bank announced two new programs to boost the stock market. These programs could inject around $112. 6 billion into the market. This happened even as China's statistics bureau claimed the economy was showing stable growth. The bureau is confident of reaching the 5% growth target for the year. Retail sales and industrial production also showed improvement in September. Retail sales rose 3. 2% from a year ago, and industrial production grew by 5. 4%. However, some experts are not convinced this data signals a full recovery. They point out that the property market is still struggling, with home prices falling at the fastest pace since 2015. The central bank's announcements boosted market sentiment, leading to a 3. 6% increase in China's benchmark CSI300 and Hong Kong's Hang Seng Index. The economy is facing challenges like a property crisis and high youth unemployment. Consumers are also saving more and spending less. China has been emphasizing support and stimulus measures to boost confidence after years of negative news. Experts believe the government will continue to take steps to support growth and prepare for 2025.