Chinese official says economy resilient but recovery momentum remains weak
FXI•China’s economy continues to expand steadily, but an NDRC official said its recovery foundation and momentum remain weak. He cited deepening external shocks and a pronounced mismatch between strong supply and weak domestic demand.
1. Recovery momentum weak
China’s economy has withstood pressure and continues to expand steadily, but its recovery foundation and momentum remain weak, Zuo Gang, a deputy director at the National Development and Reform Commission, said at a press conference. His comments followed the release of better-than-expected third-quarter growth data, as exports offset consumers’ tight grip on spending.
2. Demand strategy planned
Zuo said external shocks are deepening and the mismatch between strong supply and weak domestic demand remains pronounced. He also cited divergence across industries and said the NDRC is drafting a plan to expand domestic demand for 2026-2030, which it will work to issue and implement.
