China's Economic Growth Slows Amid Real Estate Crisis and Trade Tensions

China's economy is currently experiencing a notable slowdown, with a growth rate of 4.8 percent in the third quarter, marking a decline from previous months. This economic deceleration comes amid challenges such as a real estate crisis, cautious consumer spending, and ongoing trade tensions with the United States.

Despite these issues, industrial production has shown resilience, increasing by 6.5 percent year-on-year. The Chinese leadership is holding discussions to outline a new five-year plan focused on achieving technological independence and fostering high-quality development.

This plan emphasizes investment in advanced sectors like artificial intelligence and renewable energy, aiming to reduce reliance on foreign technologies. While China is on track to meet its annual growth target of around 5 percent, experts urge the government to address the underlying weaknesses to ensure sustained economic health.

The forthcoming measures may include initiatives to boost domestic consumption and enhance infrastructure investments.