China's lopsided tech-driven economy is a deliberate policy choice
China's GDP grew 4.5% year on year in the third quarter, in line with Beijing's annual target. But growth leans on tech exports rather than domestic demand, Reuters columnist Ka Sing Chan writes.
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what happened
China's National Bureau of Statistics said on October 19 that gross domestic product rose 4.5% in the July-September quarter from a year earlier. The result keeps Beijing on track for its annual growth target, which sits between 4.5% and 5%, as reported by Reuters.
Columnist Ka Sing Chan argues that tech exports were the main driver of this growth. In his view, policymakers are in no hurry to address the property slump and weak household consumption. He also expects continued financial support for AI, robotics and green energy to widen the gap between sectors.
why it matters
For markets, the data show an economy meeting its target while its growth structure shifts toward technology and exports. There is little sign yet that authorities are ready to quickly boost domestic demand, which matters for the yuan and Chinese equities.
market impact
Yuan and Chinese stocks: growth relies on tech and exports, while weak domestic demand limits the outlook
tags
instruments
sources
- China's off-kilter tech economy is by design — Reuters, 20 October 2026 at 03:36 UTC
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