Core Viewpoint - China's GDP for the first three quarters reached 10,150.36 billion yuan, with a year-on-year growth of 5.2% at constant prices, indicating steady economic performance and positive outcomes in high-quality development [1] Economic Performance - In the first quarter, GDP grew by 5.4%, in the second quarter by 5.2%, and in the third quarter by 4.8%. Despite a 0.4 percentage point decline in the third quarter compared to the second, this growth rate remains significantly higher than that of most major economies [2] - The fundamentals of the Chinese economy are strong, with stable operational support remaining unchanged [2] Sectoral Contributions - Agricultural value added increased by 3.6%, industrial value added grew by 6.2%, and service sector value added rose by 5.4% in the first three quarters [5] - Retail sales of consumer goods totaled 36,587.7 billion yuan, with a year-on-year growth of 4.5%, while manufacturing investment increased by 4.0% [5] - The total value of goods imports and exports reached 33,607.8 billion yuan, also reflecting a year-on-year growth of 4.0% [5] Investment and Consumption - The contribution rate of final consumption expenditure to economic growth reached 53.5%, indicating a significant impact on overall economic performance [5] - Manufacturing innovation is evident, and policies aimed at expanding domestic demand and promoting consumption are showing positive results [5] Future Outlook - Analysts suggest that infrastructure investment and manufacturing investment will remain resilient in the fourth quarter, with consumer demand expected to recover steadily [7] - New policy financial tools and fiscal measures are anticipated to support local governments in achieving economic and social development goals [7] - The government aims to implement more proactive macro policies to stabilize employment, businesses, markets, and expectations, promoting sustained and healthy economic development [7]