China’s GDP Grows 4.5% in Q3 as New Growth Drivers Gain Ground
Beijing, October 29 — China’s economy grew 4.5% year on year in the third quarter of 2026, accelerating from 4.3% in the previous quarter, according to the National Bureau of Statistics (NBS). GDP grew 4.6% year on year in the first three quarters, reaching RMB 107.1 trillion over the period.
New growth drivers continued to support economic expansion. In the first three quarters, value added in high-tech manufacturing rose 14.3% year on year, while output of industrial robots and lithium-ion batteries increased 29.1% and 39.5%, respectively. New growth drivers contributed more than 40% of economic growth during the period, according to preliminary estimates.
Industrial profitability also improved overall. Profits of industrial enterprises above designated size rose 15.5% year on year from January to September. However, gains varied significantly across industries, with strong growth in electronics-related sectors offset by weaker results in some traditional manufacturing industries.
The services sector grew 5.2% year on year in the first three quarters, with value added in information transmission, software and IT services rising 10.4%. Foreign trade also remained strong, with goods imports and exports increasing 18.8% to RMB 39.94 trillion over the same period.
However, the recovery remained uneven. Retail sales of consumer goods grew just 1.1% in the first three quarters, although service retail sales rose 5%. Fixed-asset investment fell 7.2%, while property development investment declined 20.6%, highlighting continued weakness in investment and the property market.
data source: https://www.stats.gov.cn/english/PressRelease/202610/t20261019_1965619.html?utm
Canton Fair Records 13.4% Growth in Overseas Buyers and New Highs in Innovative and Green Products
Guangzhou, October 29 — The 140th China Import and Export Fair (Canton Fair) opened on October 15. By the close of Phase 2, the event had attracted 278,000 overseas buyers from 218 countries and regions, up 13.4% from the corresponding period of the previous session. For reference, the 139th (spring) session had recorded 245,000 overseas buyers from 219 countries and regions by the close of Phase 2.
New products account for 23.2% of all exhibits, while green and low-carbon products make up 26%, both record highs in the fair’s history. To showcase new releases, a dedicated new-product launch zone has been introduced for the first time. Highlights include humanoid robots, consumer exoskeletons, AI glasses, smart wearables, long-duration energy storage equipment, new energy vehicles and service robots, alongside a wide range of eco-conscious home goods. Enquiries about smart wearables, VR/AR devices and consumer drones have risen markedly compared with previous sessions, highlighting growing buyer interest in technology-driven products.
The fair is also broadening its exhibition scope. New zones have debuted at this session, including one dedicated to China’s time-honored brands and another focused on international medical services. The launch of “Sui Kang Lv,” a digital medical tourism platform, adds a health and wellness dimension to the range of services associated with the event.
Beyond product innovation, exhibitors are also broadening the range of services they offer. Nearly one-third provide integrated packages combining products, after-sales services and customized development, rather than selling standalone products alone. This reflects an approach that goes beyond individual product sales to address a wider range of buyer needs.
Chery Considers EV Production in Canada Amid Trade Barriers
Shanghai, October 27 — According to Bloomberg, Chinese automaker Chery is actively evaluating plans to establish an electric vehicle (EV) production base in Canada, with locally produced new energy vehicles (NEVs) expected to launch in 2027. The move would position Canada as a potential gateway to the North American market, helping the company avoid the high import tariffs facing vehicles exported directly from China to the United States. Chery has also made clear that it has no plans to begin vehicle production at a US factory in the near term.
Industry analysts point to cross-border trade barriers as a major obstacle to the overseas expansion of China’s NEV makers. The EU’s ongoing anti-subsidy investigations, combined with rules under the US Inflation Reduction Act, have significantly raised the barriers to exporting finished vehicles directly to developed markets. Against this backdrop, more Chinese automakers are exploring local production in third countries as a way to expand their presence in the Americas.
Unitree and Sequoia China Launch Investment Initiative to Back Robotics Startups
Hangzhou, October 28 — Unitree Robotics and Sequoia China have jointly launched the Shanyu Innovation Program, a dedicated investment initiative targeting early-stage technology startups in embodied AI, general-purpose humanoid robots, quadruped robots, and key robotic components.
The partnership combines Unitree’s engineering and R&D capabilities, product validation experience, and global supply capabilities with Sequoia China’s capital and industrial network.
The initiative will focus on supporting upstream supply chain companies, particularly those developing high-performance reducers, motion controllers, perception chips, and robotic vision algorithms.
The collaboration marks a notable development in the humanoid robotics sector, bringing together a leading robot manufacturer and a top-tier venture capital firm. Rather than focusing solely on developing end products in-house, leading manufacturers are increasingly taking an active role in accelerating the development and maturation of the broader robotics supply chain.
Retired Travellers Boost Off-Season Hotel Demand in China
Beijing, October 16 – After the National Day holiday, airfares and hotel rates fell sharply, making retired travellers a key source of demand for hotels during the off-season.
Booking data from Qunar show that the number of hotel booking orders made by users aged 60 and above who live in third-tier and smaller cities, for stays between the Double Ninth Festival and the period before New Year’s Day, rose 40% year on year. This growth outpaced the overall market, while average spending per guest was nearly 20% higher than the market average.
Longer stays are another defining feature of this group. Reservations for stays of seven days or more by users aged 55 and above increased by around 20% year on year, with the average booked stay reaching 12 days. These retired travellers, largely born in the 1960s and 1970s, have benefited from rising property values. Many own their homes outright and have no mortgage payments, giving them spending power that the market often overlooks.
These extended-stay bookings can help sustain hotel cash flow during the off-season. Stays averaging 12 days also generate ongoing spending on local dining, short trips and retail. This is a typical example of how the experience economy can create a multiplier effect in lower-tier cities.