China GDP grows by 7.8% in the third quarter

China’s growth picked up again in the third quarter, growing 7.8% year-on-year and putting an end to worries that the world’s second-largest economy is slowing, The Wall Street Journal reported. Scrutiny will now fall on coming quarters to see whether China’s economy —a major global growth engine—can sustain that faster pace. The quickened growth rate, announced by the National Bureau of Statistics today, compares with 7.7% in the first quarter and 7.5% in the second. It also matched the median forecast of 18 economists surveyed by The Wall Street Journal.