GDP of the 3rd quarter of 2023 in China grew by 4.9% year on year. GDP of the 1st 3 quarters of 2023 in China grew by 5.2% year on year. Consumption in the 3rd quarter of 2023 in China continued to recover to go up. Consumption component contributed more to the GDP growth of the 3rd quarter than before in China. Covid pandemic evaded and negative effects of it were eliminated generally in China.

With respect to micro, it is worth mentioning that sales of new energy vehicles accounted for 29.8% among total sales of vehicles in China from January to September of 2023, which was higher than 25.6% of 2022. From January to September of 2023, BYD ranked No.1 among all passenger car OEMs in China in terms of sales.  

Macro-Data Source: National Bureau of Statistics