This undated photo shows commercial buildings in the Lujiazui area in Shanghai, east China. (FANG ZHE / XINHUA)

BEIJING - China's economic recovery picked up steam in the third quarter as activities normalized amid effective control of the novel coronavirus and the government's sweeping efforts to stimulate demand and consumption, official data showed Monday.

China's gross domestic product (GDP) expanded 4.9 percent year-on-year in the third quarter of 2020, faster than the 3.2-percent growth in the second quarter, data from the National Bureau of Statistics (NBS) showed. 

At the same time, China's GDP expanded 0.7 percent year-on-year in the first three quarters of 2020, returning to growth after the 1.6-percent contraction in the first half of the year and the 6.8-percent slump in Q1, the data showed. 

As seen from the trends of the key indicators, China's epidemic prevention and economic recovery are at the world's forefront, which shows the strong resilience and vitality of the economy ... Overall, China has the foundation, conditions and confidence to maintain the current trend in Q4 and the full year.

Liu Aihua, Spokesperson for the National Bureau of Statistics, China

In Q3, major indicators returned to positive territory, with industrial output rising 5.8 percent and retail sales reporting the first quarterly expansion this year.

Fixed-asset investment went up 0.8 percent year-on-year in the first three quarters, reversing a decline of 3.1 percent in the first half of this year.

Per capita disposable income rose 0.6 percent in the first nine months, compared with a decline of 1.3 percent in H1.

"As seen from the trends of the key indicators, China's epidemic prevention and economic recovery are at the world's forefront, which shows the strong resilience and vitality of the economy," said Liu Aihua, spokesperson for the NBS.

Despite the across-the-board improvements, the foundation for sustainable recovery requires further consolidation due to global uncertainties and uneven performance at home, Liu cautioned.

"Overall, China has the foundation, conditions and confidence to maintain the current trend in Q4 and the full year," Liu added.

In the latest World Economic Outlook report released earlier this month, the International Monetary Fund (IMF) projected China's economy to grow by 1.9 percent in 2020, 0.9 percentage points above the IMF's June forecast, making it the only major economy that will see positive growth this year.

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Industrial output up 5.8% in Q3

China's value-added industrial output, an important economic indicator, went up 5.8 percent year-on-year in the third quarter as factories stepped up production amid COVID-19 control, NBS data showed.  

In the first three quarters, industrial output went up 1.2 percent year-on-year, reversing a decline of 1.3-percent in the first half of this year, NBS data showed

In the first three quarters, industrial output went up 1.2 percent year-on-year, reversing a decline of 1.3-percent in the first half of this year, the data showed.

In September alone, output by major industrial firms jumped 6.9 percent year-on-year, 1.3 percentage points faster than that in August.

In the first three quarters, output by the high-tech manufacturing and equipment manufacturing sectors rose 5.9 percent and 4.7 percent year-on-year, respectively.

In a breakdown by ownership, output by the private sector went up 2.1 percent year-on-year in the first three quarters while that by state-controlled enterprises rose 0.9 percent.

The industrial output is used to measure the activity of designated large enterprises with an annual business turnover of at least 20 million yuan (about US$2.98 million).

Fixed-asset investment up 0.8% in first 3 quarters

China's fixed-asset investment went up 0.8 percent year-on-year in the first three quarters of 2020, according to NBS data.

Fixed-asset investment in the primary industry rose 14.5 percent year-on-year in the first three quarters of 2020, according to NBS data

Total fixed-asset investment came in at 43.65 trillion yuan (about US$6.5 trillion) during the period.

In breakdown, the investment in the primary industry rose 14.5 percent from the same period last year, while investment in the tertiary industry grew 2.3 percent.

Private investment dropped 1.5 percent during the period, narrowing by 1.3 percentage points from the first eight months.

On a month-on-month basis, the country's fixed-asset investment went up 3.37 percent in September.

Disposable income rises 3.9% in first 3 quarters

China's per capita disposable income stood at 23,781 yuan (about US$3,549) in the first three quarters of the year, up 3.9 percent from the same period last year in nominal terms, NBS data showed.

China's per capita disposable income stood at 23,781 yuan (about US$3,549) in the first three quarters of the year, NBS data showed

After deducting price factors, per capita disposable income rose 0.6 percent year-on-year, returning to positive territory for the first time this year, according to the NBS.

Separately, urban per capita disposable income came in at 32,821 yuan, up 2.8 percent in nominal terms and down 0.3 percent in real terms, while income in rural areas stood at 12,297 yuan, up 5.8 percent in nominal terms and 1.6 percent in real terms.

Retail sales up 3.3% in Sept

China's retail sales of consumer goods climbed 3.3 percent year-on-year in September, NBS said.

The growth picked up after the major consumption gauge posted its first positive growth this year in August by rising 0.5 percent year-on-year.

READ MORE: China's retail sales record first expansion

Retail sales of consumer goods rose 0.9 percent year-on-year in the third quarter of the year, the first positive quarterly growth this year

Retail sales of consumer goods rose 0.9 percent year-on-year in the third quarter of the year, the first positive quarterly growth this year.

The value of auto sales increased 11.2 percent year on year in September, maintaining double-digit growth for three consecutive months. Wen Bin, a chief analyst at China Minsheng Bank, said auto sales have provided a major boost to consumer sales.

Consumer spending contributed 1.7 percentage points to China's Q3 economic growth, NBS' Liu said. That compared with a 2.3-percent drag on growth in Q2.

In the first three quarters, the indicator went down 7.2 percent year-on-year to 27.33 trillion yuan (about US$4.08 trillion), with the decline narrowing by 4.2 percentage points from the first half of the year.  

Online spending grew 9.7 percent for the Jan-Sept period, accelerating from the 7.3-percent rise registered in the first half. Online sales of physical goods, which account for 24.3 percent of the total retail sales, surged 15.3 percent from one year earlier. 

Surveyed unemployment rate drops in Sept

China's surveyed unemployment rate in urban areas stood at 5.4 percent in September, 0.2 percentage points lower than that of August, NBS data showed.

A total of 8.98 million new urban jobs were created in the first three quarters, completing 99.8 percent of the annual target, the NBS said.

A total of 8.98 million new urban jobs were created in the first three quarters, completing 99.8 percent of the annual target, the NBS said

The surveyed unemployment rate among those aged between 25 and 59, the majority of the labor market, stood at 4.8 percent in September, unchanged from that of August.

Meanwhile, the surveyed unemployment rate in 31 major cities was 5.5 percent last month, down 0.2 percentage points from August, according to the NBS.

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The surveyed urban unemployment rate is calculated based on the number of unemployed people who have participated in the employment survey in urban areas, including migrant workers in cities.

China will give priority to stabilizing employment and ensuring living standards this year, aiming to add over 9 million new urban jobs and keep the surveyed urban unemployment rate at around 6 percent, according to the government work report.