China's GDP growth for the third quarter has slowed to 4.7%, driven by weak investment, declining prices, and subdued retail sales, despite record export levels. The ongoing deflationary trend has persisted for nine consecutive quarters, exacerbated by trade tensions with the U.S., which have further pressured industrial and retail sectors. Policymakers are expected to focus on enhancing domestic consumption and technological self-sufficiency to stabilize economic growth. Currently, household consumption in China accounts for about 40% of GDP, significantly lower than the global average of 56%, as reported by the World Bank.