China's economy grew 7.8 percent year-on-year in the third quarter, the government reported on Friday, accelerating for the first time in three quarters. It had grown 7.5 percent in the second quarter.
Compared to the second quarter, the economy grew 2.2 percent in the third quarter.
The third quarter did not end as strongly though.
Industrial production rose 10.2 percent from the previous year in September compared to 10.4 percent in August while retail sales rose 13.3 per cent compared to 13.4 percent the previous month.
Fixed asset investment rose 20.2 percent in the first nine months of the year compared to the previous year. It had risen 20.3 percent in the first eight months.
However, home sales jumped 34 percent in September from the previous month.
The good GDP report from China helped stocks in Asia rally. The MSCI Asia Pacific Index added 0.6 percent on Friday.
Stocks elsewhere also rose on Friday. The S&P 500 rose 0.7 percent to a record high for the second consecutive day. The STOXX Europe 600 rose 0.8 percent for its seventh consecutive gain, its longest winning streak this year.
The MSCI All-Country World Index rose 0.7 percent to the highest level since May 2008.
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