China's GDP expands 4.9% in Q3

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 seen in Q2, data from the National Bureau of Statistics (NBS) showed Monday.

In the first three quarters, the country's GDP expanded 0.7 percent year on year, 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.

Major indicators showed across-the-board improvements, with industrial output rising 5.8 percent and retail sales reporting the first quarterly expansion, up 0.9 percent year on year in Q3.