The government published China’s data on economic performance for the third quarter of the year 2021 on 18th October 2021. As much as the Gross Domestic Product grew by 4.9%, it fell short of analysts’ forecast, pegged it at 5.2%.
This fall in the speed of growth in the economy can be attributed to a number of factors. One of these is the power restrictions that have led to power cuts. Added to these, there have been many problems with the bureaucracies around the supply chain and its management and an increase in local and international trade risks, all of which have taken a hit on normal production.
For financial advisory services in China, especially for foreign investors eyeing an entry into the promising Chinese market, there are financial advisory firms in China to help you navigate the rather challenging process.
External Challenges and their Impact on GDP Growth
Over the third quarter, China’s economy saw a growth in its GDP by 4.9%, talking of the year-on-year increase. However, this was a quick deceleration from the 18.3% growth in the GDP that was recorded in the first quarter.
But looking at the year-to-date growth in the country’s GDP, a steadiness of a kind can be seen, having maintained a 9.8% growth rate over the past nine months.
By and large, there has been unevenness in the recovery of the economy over the year. This instability can be explained as the result of the after-effects of the challenges faced in the year 2020. Therefore, it is now on the policymakers to take further measures and steps to ensure that the economy stabilises and guarantee continued growth going forward. Some of the policymakers will include; speed up infrastructural development, easing access to credit, and reviewing the real estate policies.
Contact the financial advisory firm in China for more info on how to. The GDP growth over the past quarter stood at 0.2%. However, this was far from the forecasted growth rate of 0.5%, which may be attributed to the effects that the external challenges have had on the country’s economy.
International Trade-Imports and Exports in the Face of the Pandemic
Generally, the imports and exports have remained relatively strong over the year. Looking at the year-on-year performance, the total value of imports and exports grew by 22.7%.
But all said and done before you finally make a jump and set up in China, it is crucial and thoughtful to talk to an expert financial advisory firm in China. These are the experts you should be in close liaison with for you to be sure that your investments in China as a foreigner will be a success at the end of the day.