China's economy continues to bounce back from virus slump

According to the latest official estimates, China's economy is maintaining its revival from the Covid-19 pandemic.

Compared to the same quarter last year, the world's second-largest economy saw growth of 4.9 percent between July and September.

The number, however, is lower than the 5.2 percent that economists predicted.

Based on its most recent gross domestic product (GDP) results, China is now leading the charge for a global recovery.

The rise of nearly 5% is a far cry from the recession that the Chinese economy experienced when the pandemic first appeared at the beginning of 2020.

China's economy shrank by 6.8% for the first three months of this year as it saw national shutdowns of factories and manufacturing plants.

It was China's economy's first contraction since it began tracking quarterly figures back in 1992.