China's economy has achieved remarkable performance in the first three quarters of this year thanks to the continuous efforts made by the government, said economic experts from various countries who are expecting even better numbers in the fourth quarter.
The National Bureau of Statistics (NBS) on Friday released new data on China's gross domestic product in the first three quarters of this year, which totaled around 94.97 trillion yuan (about 13.33 trillion U.S. dollars), a year-on-year increase of 4.8 percent at constant prices.
China Global Television Network (CGTN) talked to several business insiders on the sideline of the Financial Street Forum, which got underway in Beijing on Friday, to hear what the international community expects of China's economy.
Some underscored that the efforts made by the Chinese government have attracted global investment to China, especially in sectors like technology.
"I think everyone is looking at China's economic performance this year. It's not going to be as big as it once was. But as you can see, it's positive and it's a lot better than other countries around the world because of what's happening in China. You look at what the government did with the stimulus recently, and you see a lot of the key people and people that know, the experts, key experts in the West have invested in China's stock market. There is a reason why they are investing in China's stock market. I think you'll see a lot of people, the biggest investors in the world are investing in Chinese stocks in technology. I think that says what it says," said Jack Perry, CEO of the London Export Corporation.
Others attach more significance to medium to long-term development.
"I think the first three quarters were fairly in line with what we expected. There are, of course, many challenges in the current [environment], because the top line economic indicators don't tell the whole story of what's going on in different areas of the market. What I'm more interested in is the medium to long-term growth, which sectors grow and where we're actually going to invest," said Shane Tedjarati, founder, chairman and CEO of the Tribridge Group .
Despite persisting challenges in the first three quarters, some observers are looking forward to better figures in the remainder of the year.
"The market [has] already prepared [for] a little bit challenging data looking forward into Q4, but with some positive numbers obviously, it brings more positive energy into the market. We had a little bit of softer exports. That's a little bit worse than expected, which is even more compensated by consumption and fixed investment data. Property numbers continue to be quite challenging. Those are the things we look forward for better numbers maybe in October, but definitely in Q4," said Thomas Fang, head of China global Markets of UBS, a multinational investment bank.
Global economic experts look to further increase in Chinese economy
