China's economy grew by 4.9% in the third Quarter, surpassing economists' expectations of 4.6% growth. This follows growth of 6.3% in the second quarter and 4.5% in the first quarter. On a quarter-on-quarter basis, the economy expanded by 1.3%, higher than the expected 0.9% growth. China also reported strong monthly data, with industrial production growing by 4.5% and retail sales by 5.5% in September. Unemployment decreased from 5.2% to 5% in September. China's top leaders have described the post-Covid economic recovery as "tortuous."

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