New Delhi, Oct. 20 -- China's latest gross domestic product (GDP) figures reflect its economy's sluggish momentum. Data issued on Monday showed GDP grew 4.5% from a year earlier in the three months ended in September.

This marked a slight pick-up from its 4.3% expansion in the preceding quarter but hit the bottom-end of the 4.5-5% full-year target the government has set.

It's likely that aim might yet be achieved, but Beijing still won't have much reason to rejoice. Domestic demand remains weak long after a property market crisis hurt household balance sheets; in the first nine months of 2026, realty investment was down more than 20%.

What's supporting broader growth is overseas demand. Its exports have been growing strongly, especiall...