China's Growth Rises to 4.5%: Why Consumption Must Be Examined Separately

Even when China's economic growth rate rises, the consumer market and investment demand do not recover at the same pace. In the third quarter of 2026, real gross domestic product increased by 4.5% compared to the same period last year, but the nominal growth rate of retail sales of consumer goods stalled at 1.1% from January through September, and fixed asset investment declined. The change that Korean companies need to read goes beyond China's overall growth to determine which industries and customer demands are actually increasing. Growth of 4.5% Diverges Across Industries The National Bureau of Statistics of China announced its economic performance data on October 19 and released preliminary calculations of third-quarter GDP by industry on October 21. The third-quarter real GDP growth rate of 4.5% is higher than the second quarter's 4.3%. However, looking at the real value-added by in…