A s m o r e p s t ri a o li c y t o o l s l o u t a t h a n d t p u t, o m a i n v

China’s economic performance is largely beating expectations thanks to robust export growth despite the onging trade war with the US. Although the economy is under downward pressure, steady GDP expansion can be maintained, driven by investment in the near term, experts said on Wednesday.

Industrial output, services and investment grew faster than expected in October, while other indicators pointed to continued pressure on the economy, according to figures released on Wednesday by the National Bureau of Statistics (NBS).

According to NBS figures, China’s valueadded industrial output expanded 5.9 percent year-on-year in October, up 0.1 percentage point from that recorded in September. On a monthly basis, the output grew 0.48 percent from September.

The fixed-asset investment growth rate quickened to 5.7 percent in the January-October period, accelerating from 5.4 percent for January to September period. Private sector fixed-asset investment rose 8.8 percent in the same period, NBS figures showed.

“Investment growth is a major force that’s helping keep the economy steady in the current quarter, and it will also do so in 2019,” Tian Yun, vice president of the Beijing Economic Operation Association, told the Global Times on Wednesday.

The major factor keeping China’s economy steady is export growth, Tian said.

Exports reached 1.49 trillion yuan ($214 billion) in October, up 20.1 percent year-on-year, the NBS announced. “More important, the delivery

“High-technology equipment manufacturing is growing faster than labor-intensive, resource-intensive industries.”