Editor's note: Kulsum Begum, a special commentator for CGTN, is a security and strategic affairs researcher and freelance columnist. The article reflects the author's opinions and not necessarily the views of CGTN.

Despite the fact that the West has made a major effort to conceal this truth by propagating misinformation, China's newest economic figures revealed that the country's economy recovered despite global economic downturns in the first three quarters. Consumer spending drove 83.2 percent of GDP growth during the period. A Turkish scholar recently said that the Chinese economy is expanding slowly and is still headed in the right direction. The Chinese economy has made extraordinary progress and performed tremendously well despite external headwinds this year, fueling growing optimism. This encouraging trend has been reflected in recent economic figures.

China's GDP increased by 4.9 percent from July to September, and increased by 5.2 percent in the first nine months, according to official data. It established a solid foundation for attaining the 5 percent annual growth objective. China has overcome several obstacles to attain sustained development, according to economic statistics.

Following a faster-than-anticipated GDP growth in the third quarter of 2023, major international financial institutions, including JP Morgan, Citigroup, UBS and the Japanese financial services company Nomura have increased their growth predictions for China through 2023.

In September alone, industrial output rose 4.5 percent year-on-year. September retail sales, a crucial indicator of consumer spending, rose 5.5 percent year-over-year from 4.6 percent in August. Retail sales have also surged in the first nine months.

China has stated it will further open up its manufacturing sector to international businesses. According to a State Council assessment, China's financial sector is anticipated to maintain cautious macro regulation and improve its capacity to support the real economy. The research underlines China's responsible monetary policy, robust real-economy assistance, and efficient financial market operation. The system will also prioritize fostering fresh development engines, offering reliable finance, and assisting private businesses.

On the other hand, when Western media are propagating the "stock market collapse" rhetoric of China, Chinese state fund Central Huijin Investment said that it had purchased exchange-traded funds (ETFs) and would keep doing so as the Chinese stock market resumed its decline from the previous week.

Analysts argue that China's high-quality economic development, flexible economic strategies, supportive prompt policies, green transformation, and continual consumer improvement provide growth potential. China's pragmatism and policy astuteness also increase the confidence amongst businesses to stabilize the economic strength, and supply chains. Industrial and trade recalibration, moderate stimulus, and regional collaboration are paying off.

Numerous economic indicators and ongoing or upcoming business events and fairs point to the continued strength of China's economy. China is going through a crucial stage of industrial upgrading and economic recovery. The economy is anticipated to continue improving in the second half of the year as the nation promptly introduces and puts into place policies and measures to stabilize growth, guarantee employment, and mitigate risks. The country is also expected to step up its efforts to change the growth model, enhance the economic structure, and accelerate growth. China's exports will upgrade and become high-end due to its position in the global industrial and supply chain.

The ongoing 134th Canton Fair, also known as the China Import and Export Fair, began on October 15 in Guangzhou, the capital of south China's Guangdong province. The expo, which will last until November 4, has drawn customers and exhibitors from all around the world. More than 100,000 purchasers have registered for the event from more than 200 countries and regions. It will undoubtedly increase international trade in China. Chinese businesses would participate in the exhibition, which acts as a gauge for China's foreign trade, by bringing their cutting-edge goods and services. The Canton Fair has become a crucial occasion for catching up with previous customers and talking about orders and trends for the next season.

Shanghai will host the China International Import Expo (CIIE) 2023 from November 5 to 10, attracting more international exhibitors offline. This event has already been held five times. It promotes China's high-level opening-up initiatives and benefits the global economy. This year's event will include 289 Fortune 500 businesses and industry leaders, up from last year.

China's imports and exports totaled 30.8 trillion Chinese yuan ($4.13 trillion) in the first three quarters of the year. In the first nine months, exports increased by 0.6 percent year-over-year to 17.6 trillion yuan, while imports decreased by 1.2 percent to 13.2 trillion yuan. This is the most recent indication that the world's second-largest economy is on the road to recovery as stimulus takes effect and market confidence grows. In September, despite slow global economic and trade development, China's international trade showed remarkable resilience and maintained steady performance, and it is anticipated that the nation would continue to retain its growth pace. Despite persistent Western media manipulation against Chinese economic progress, this is also seen as a sign of economic confidence in China.

September's foreign trade data demonstrates the growing pace and economic stability of the Chinese economy, where exports remain a key economic driver. The durability and potential of the Chinese economy are shown by these recent data, which points to a favorable trend in the country's trade. The state of overseas commerce has remained steady and encouraging for the government's policy support. China is working hard to maintain the pace of the development of its international trade and successfully stabilize its fundamentals in order to support the recovery and expansion of its own economy.

China's consistent commitment to openness and prompt measures to develop international economic and trade cooperation are currently driving economic growth and foreign trade stability in scope and structure. For instance, over 1,200 representatives from more than 80 countries and regions began "opportunity hunting" in the third Belt and Road Forum for International Cooperation, seeking to establish new business networks under the BRI, one of the world's largest platforms for international cooperation, to give their businesses certainty in an uncertain world and contribute to global development. The global economy may be significantly impacted by China's economic resilience.

(If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com. Follow @thouse_opinions on Twitter to discover the latest commentaries in the CGTN Opinion Section.)