Higher tariffs, property slump slow China's growth

China's economy expanded at the slowest annual pace in a year in July-September, growing 4.8%, weighed down by trade tensions with the United States and slack domestic demand.

- BY CHAN HO-HIM

WORKERS deliver goods in Beijing. Analysts said holiday spending was sluggish.

(NG HAN GUAN Associated Press)

The rate was the weakest pace of growth since the third quarter of 2024, and compares with a 5.2% pace of growth in the previous quarter, the government said in a report this week.

In January-September, the world's second largest economy grew at a 5.2% annual pace. Despite President Trump's higher tariffs on imports from China, its exports have remained relatively strong as companies expanded sales to other world markets.

China's exports to the United States fell 27% in September from the year before, even though growth in its global exports hit a six-month high, climbing 8.3%.

Exports of electric vehicles doubled in September from a year earlier, while domestic passenger car sales climbed 11.2% year-on-year last month, down from a 15% rise in August, according to data released last week.

Tensions between Beijing and Washington remain elevated, and it's unclear whether Trump and Chinese leader Xi Jinping will proceed with a proposed meeting during a regional summit at the end of this month.