China's economic growth picks up as AI boom boosts exports
Source: BBC ·
Exports have helped offset weak domestic spending, but trade tensions and AI doubts weigh on the outlook.
From the source
China's economic growth picked up in the three months to the end of September, rebounding from a three-year low as the artificial intelligence (AI) boom helped boost exports. The world's second largest economy grew by 4.5% in the third quarter, up from 4.3% in the previous period but below the 5% expansion recorded from January to March. The latest figure is at the bottom end of Beijing's annual growth target of 4.5%-5%, which analysts have said gives policymakers room to address the country's economic challenges. Exports have helped offset weak spending at home, but global trade tensions and uncertainty over AI investments are clouding its outlook. With exports climbing, China's trade surplus - the amount of goods and services it sells abroad compared to what it buys from other countries - is on track to overtake the record $1.2tn (£900bn) seen last year. The technology industry has been a key driver of China's growth in recent quarters. Global demand for computer chips and other…