China’s economy grew at just 4.9% in the third quarter of 2021 the slowest growth this year as it scrambles against a crippling power shortage, disruptions in the global supply chain, and sporadic Covid-19 outbreaks, data from the national bureau of statistics  showed on Monday.

NBS statistics showed, In the third quarter , the country’s GDP grew 4.9% year-on-year, slower than the growth of 18.3% in Q1 and 7.9% in Q2. The country’s GDP expanded 9.8% year-on-year in the first three quarters, putting the average growth for the period in the past two years at 5.

The slowdown is adding pressure on the policy makers of the Communist Party of China  to help recover economic growth. China’s economy had seen a remarkable recovery in the first quarter of the year after successfully controlling the Covid-19 pandemic.

“The domestic economic recovery is still unstable and uneven,” NBS spokesperson Fu Linghui said in Beijing on Monday. “Since entering the third quarter, domestic and overseas risks and challenges have increase the business website Caixin reported.

Experts told Chinese official media that China’s GDP growth in the fourth quarter will face extra pressure, which may further drag down GDP growth for the whole of 2021.

Spokesperson Fu remained optimistic about tackling the power shortage. The power crisis had a “certain impact” on normal production, Fu said, but he added that the impact on China’s economy “is controllable”.

Rising energy prices globally as well as tight domestic supplies of coal and electricity partly led to power outages in some regions that affected normal production orders, Fu was quoted as saying by the Xinhua news agency.

On Sunday, it was widely reported that as winter approaches, Chinese authorities fear what is being called a “twindemic” a likely combined increase in Covid-19 outbreaks and influenza cases across the country.

China has rolled out a series of measures to ensure power supply and keep electricity prices stable, he said, adding that as these measures gradually take effect, the power crunch would be eased and its impact on economic operation will be alleviated.


Please enter your comment!
Please enter your name here