China Stabilizes, in the Shadow of Country Garden and Evergrande

China’s economy no longer resembles a newly paved parking lot: Things are moving again and green shoots are creeping up through the cracks. But sustaining that could be tough if major property developers keep cracking apart too.

Official data released Wednesday showed the Chinese economy grew 4.9% year-over-year in the third quarter and 1.3% quarter-over-quarter. The latter figure was nearly twice as fast as the second quarter’s 0.8% increase.