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China Economy Maintains Upward in Third Quarter
The index of economic momentum reached a new high of 123.2 points in the third quarter of the year, up 1.5 points from the second quarter.
According to the National Bureau of Statistics (NBS), the index of state-owned enterprises continued to rise in the third quarter, climbing 2.9 points over the second quarter to 118.5 points.
Indices of other enterprises also saw various margins of growth in the same period.
Manufacturing and building industries continued the trend of robust growth in the third quarter, while wholesale, retail and catering industries registered a new high of the momentum index of this year.
Transport, storage and telecommunications industries remained the same as in the second quarter. But the index of social service industry slipped in the third quarter.
The gap of performance between large and small-sized enterprises widened in the third quarter, as the momentum index oflarge companies steamed ahead to 146.5 points and that of small enterprises lingered in negative zones.
The NBS predicts that in the last quarter of the year, Chinese enterprises will maintain the upward momentum of performance while the index will rise to 126.0 points. All industries will see growth in the fourth quarter.
According to the NBS, the enterprises will continue to improve the quality of operation and a set a record of profits index over the past few years in the fourth quarter.
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