BEIJING, Oct. 23 -- Data released by China's National Bureau of Statistics on Oct. 19 showed GDP grew 4.6 percent year on year in the first three quarters, with the consumer market continuing to expand, investment in intellectual property products rising quickly and goods imports and exports growing rapidly.
Reuters reported that China's GDP grew 4.5 percent year on year in the third quarter, picking up from the second quarter. High-tech manufacturing value added rose 14.3 percent in the first three quarters, 9.0 percentage points faster than overall industrial output above designated size, while output of 3D printing equipment, lithium-ion batteries and industrial robots grew 62.5 percent, 39.5 percent and 29.1 percent respectively.
Analysts quoted by Reuters said the latest data makes the full-year growth target more achievable, with high-tech manufacturing, chip output, new energy vehicles and exports reflecting an accelerating industrial upgrade.
Behind that growth is China's innovation engine. A feature in the journal Nature said China has grown into a global scientific power and is moving toward leading world technological progress, potentially reshaping the global innovation landscape.
China's total R&D spending has grown roughly a hundredfold over the past three decades and by more than 10 percent a year over the past decade. China is now one of the world's main R&D investors and leads in patent applications and several key technologies, with its universities and institutes performing strongly in the Nature Index.
From breakthrough AI models to the first-ever retrieval of lunar far-side samples, a series of achievements highlight China's innovation strength. Experts quoted in the article said China is shifting from a producer of goods to a producer of knowledge and frontier technology.
China's vast consumer market also shows strong vitality. During the National Day holiday, China recorded 826 million domestic tourist trips over seven days, with total domestic tourism spending of 738.375 billion yuan; on a comparable basis, average daily trips and spending rose 6.3 percent and 4.3 percent year on year.
Australia's ABC reported that Australia was one of the most popular outbound destinations for Chinese travelers during the holiday, with bookings on China-Australia flights in October up 19 percent year on year. Local travel agencies reported a marked increase in bookings, with small-group and self-drive tours emphasizing quality and personalized experiences gaining favor.
Greek travel news outlet Daily Travel News reported that 4 million mainland residents traveled abroad between Oct. 1 and 7, with spending power that continues to benefit destination economies.
