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China’s GDP grew 4.8% year-on-year in the third quarter, bringing growth for the first three quarters to 5.2%, which is above the government’s annual target of around 5%. The National Bureau of Statistics attributed the slowdown to a complex and severe external environment and domestic structural adjustment pressures, but said favorable conditions remain for achieving the full-year target.
Used home prices fall in 70 cities
Used home prices in 70 major Chinese cities fell across the board in September from the previous month, with the average decline widening by 0.05 of a percentage point to 0.64%. The number of cities reporting month-on-month gains in new-home prices fell to just five, a new low this year.
Unitree Robotics unveils humanoid robot
Unitree Robotics announced its H2 bionic humanoid robot, which stands 180 cm tall, weighs 70 kg, and has 31 joints. The company has not announced an official price, but industry insiders expect it to be under $50,000.
CATL posts 41% Q3 profit jump
CATL reported third-quarter revenue of 104.2 billion yuan ($14.6 billion), up 12.9% year-on-year. Its net profit surged 41% to 18.5 billion yuan.
September jobless rate edges down
China’s surveyed urban unemployment rate was 5.2% in September, down 0.1 of a percentage point from August. The unemployment rate for the 16–24 age group, excluding students, fell from the previous month and was basically flat with the same period last year.
Growth in China’s retail sales of consumer goods slowed to 3% year-on-year in September. The slowdown was attributed to factors including the timing of the Mid-Autumn Festival holiday, a high base of comparison from last year’s trade-in promotions and the waning effects of recent stimulus policies.
China’s new shipbuilding orders drop amid U.S. fees
New shipbuilding orders received by Chinese yards plummeted 23.5% in the first nine months of 2025, a slump that coincides with the recent imposition of U.S. tariffs aimed at curbing the world-leading industry.
News Summary
Domestic
The first phase of the Canton Fair attracted nearly 158,000 overseas buyers, a 6.3% increase from the first phase of the previous session.
China’s industrial capacity utilization rate rose to 74.6% in the third quarter, with divergent trends among key industries targeted for reducing excessive competition.
Companies
Kering agreed to sell its beauty business, including the licenses for brands like Gucci and Balenciaga, to L’Oréal for 4 billion euros ($4.7 billion).
Sany Heavy Industry Co. Ltd. has launched a secondary listing in Hong Kong, seeking to raise as much as HK$12.4 billion ($1.6 billion) as it doubles down on expanding beyond the Chinese mainland.
Autonomous driving company WeRide has passed its listing hearing at the Hong Kong Stock Exchange.
International
France has lost its AA sovereign credit rating from two major international rating agencies, with risks of further downgrades remaining.
