China’s economy expanded 7.8 per cent in the third quarter from the same period a year earlier, marking an acceleration from the second quarter when it grew by 7.5 per cent.
The rebound in the world’s second-largest economy was largely the result of government efforts to shore up growth with looser monetary policy and a “mini-stimulus” of investment in infrastructure such as rail and subway systems.
The strong reversal of China’s first-half slowdown will bring optimism to investors and exporters from Australia to Germany to Brazil and should shore up confidence following a quarter in which many developing markets were hammered by fears over potential tightening in US monetary policy.
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