China's GDP rebounds to beat expectations

China's economic growth rebounded to 4.5 percent year on year in the third quarter, beating expectations and easing the pressure on policymakers for delivering more aggressive stimulus measures to meet the annual target. The gross domestic product growth rate, released by the National Bureau of Statistics on Monday, beat the forecast for 4.4 percent growth in a poll and was an improvement from the more-than-three-year low of 4.3 percent in the April-to-June period. The world's second-largest economy generated about 107.11 trillion yuan in output in the first three quarters. Beijing has leaned heavily on exports for growth this year, but that engine faces growing pressure as domestic demand remains weak and trade tensions with the European Union escalate. China's strategy of redirecting credit and resources from property towards high-tech industries has created a two-speed economy, where strong factory output and exports mask weak consumption and private investment. For January-September, the economy grew 4.6 percent, within the range of the government's annual growth target of 4.5 to five percent. On a quarterly basis, the economy expanded 1.2 percent in the third quarter, surpassing expectations for a 1.1 percent rise and accelerating from 0.9 percent in April-June. The trade surplus widened more than expected in September as exports surged,...