China Economy

China says its economy grew 4.5% for the July-September quarter from a year ago. That moves the country closer to meeting its annual growth target as the year nears its end. The better-than-expected official data issued Monday accelerated from the 4.3% year-on-year growth recorded in April-June, which was the slowest expansion in more than three years. It also comes at a time when China's trading partners, including many European Union nations, feel an increased urgency to balance their trade deficits with the country. For the whole year, Chinese leaders have set a growth target of 4.5%-5%, down from last year’s 5% expansion. Experts say China is likely to meet the lower end of that goal.