Forum discusses China's economic growth

China's economic recovery is gathering pace, with consistent and steady progress expected in the fourth quarter despite downward pressures like the sluggish global economy, according to experts at a forum hosted by China News Service in Beijing on Wednesday.

The forum discussed key aspects of the Chinese economy, including consumption, real estate, employment, loan and investment, and trade. Experts' remarks came as data from the National Bureau of Statistics showed that China achieved better-than-expected growth in the third quarter.

The country's GDP grew by 4.9 percent on a yearly basis in the third quarter, and the rate for the first nine months came at 5.2 percent, providing a robust basis for meeting the annual growth goal of 5 percent.

Moreover, value-added industrial output increased by 4.5 percent year-on-year in September. Retail sales, a key measurement of consumer spending, grew by 5.5 percent year-on-year in September, up from the 4.6 percent growth in August.

Yao Jingyuan, a research fellow at the Counselor's Office of the State Council, China's Cabinet, said that the economic data indicated China has overcome multiple challenges and difficulties to achieve stable growth.

The endogenous strength of China's economy is growing, while the whole society's expectations for the economy are improving, Yao said.

Looking ahead, the strengthening growth momentum will likely become more persistent if the country continues to properly address domestic and external challenges, he added.