BEIJING – China's gross domestic product (GDP) grew 4.5 percent year-on-year in the third quarter (Q3) of 2026, data from the National Bureau of Statistics showed Monday.

The growth rate was higher than the second quarter's reading of 4.3 percent, the data showed. The country's economy expanded 4.6 percent year-on-year in the first three quarters.

The world's second-largest economy generated about 107.11 trillion yuan (about $15.94 trillion) in output during the January-September period, the data showed.

Innovation-related investment holds steady

China's investment in innovation-driven sectors held up well in the first three quarters of 2026, even as overall fixed-asset investment continued to contract, the official data showed.

Investment in intellectual property products rose 9.3 percent year-on-year in the Jan-Sept period, while investment in high-tech industries grew 4.9 percent, the NBS said.

Notably, several sectors posted particularly strong gains. Investment in information services surged 20.2 percent from a year ago, aerospace equipment manufacturing climbed 12.5 percent, and electronic and communications equipment manufacturing rose 7.6 percent.

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The resilience of these sectors stands in contrast to the broader investment picture. Total fixed-asset investment fell 7.2 percent year-on-year to 33.41 trillion yuan ($4.97 trillion) in the first three quarters, dragged down in part by a slump in real estate. Excluding the real estate development investment, total fixed-asset investment declined 4.2 percent.

In breakdown, infrastructure investment fell 4.2 percent year-on-year in the first nine months, manufacturing investment dropped 2.1 percent, and real estate development investment declined 20.6 percent. Private sector investment contracted 10.4 percent. 

Major cities report narrowed home price declines

Major Chinese cities continued to report narrowed year-on-year declines in overall home prices in September, data from the NBS showed.

In the first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen, new home prices fell 0.5 percent year on year, 0.4 percentage points narrower than the previous month, while the decline in second-hand home prices narrowed from 2.7 percent to 1.5 percent in September.

As to second- and third-tier cities, price declines in both new and second-hand homes moderated compared with August.

On a monthly basis, home prices in first-tier cities rose in September, while second- and third-tier cities generally registered narrowed declines.

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Among 70 large and medium-sized cities tracked, 17 recorded rising new home prices month on month in September, two more than the previous month. Nine cities saw rising second-hand home prices, six more than August.

The NBS releases a monthly home price report tracking market changes in 70 major cities, including four first-tier cities, 31 second-tier cities and 35 third-tier cities.