RIYADH, Dec. 7 (Xinhua) -- Chinese President Xi Jinping arrived here Wednesday afternoon to attend the first China-Arab States Summit and the China-Gulf Cooperation Council (GCC) Summit, and pay a state visit to Saudi Arabia at the invitation of King Salman bin Abdulaziz Al Saud of Saudi Arabia. Xi's plane was escorted by four fighter jets from the Royal Saudi Air Force after it entered Saudi Arabia's airspace, and by six Saudi Hawk jets from the royal aerobatic team after it entered Riyadh's airspace. He received a grand and warm welcome when the plane arrived at the King Khalid International Airport in Riyadh. A 21-gun salute heralded the arrival. The Saudi Hawks painted the sky in red and yellow, colors of China's national flag. Honor guards flanked the purple carpet. Chinese and Saudi national flags fluttered in the wind. The Chinese president was warmly greeted by Governor of Riyadh Province Prince Faisal bin Bandar Al Saud, Foreign Minister Prince F...
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BEIJING, Dec. 7 (Xinhua) -- Soon after the conclusion of the 20th National Congress of the Communist Party of China (CPC), Chinese President Xi Jinping kicked off a busy month of head-of-state diplomacy. Between Oct. 31 and Nov. 4, Xi held talks in Beijing with visiting General Secretary of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong and Tanzanian President Samia Suluhu Hassan, and met with Prime Minister of Pakistan Muhammad Shehbaz Sharif and German Chancellor Olaf Scholz. From Nov. 14 to 19, Xi attended the 17th Group of 20 (G20) Summit in Bali, Indonesia, and the 29th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in Bangkok, and paid a visit to Thailand. During his six-day whirlwind trip, Xi participated in more than 30 events. Between Nov. 25 and Dec. 1, Xi held talks with visiting Miguel Diaz-Canel Bermudez, first secretary of the Central Committee of the Communist Party of Cuba (PCC) and Cuban president, Mongoli...
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More cuts in banks' reserve requirement ratio remain possible in the first half of next year if downward economic pressure necessitates more easing measures, experts said following the latest RRR cut taking effect on Monday.The RRR refers to the proportion of money that lenders must hold as reserves. Effective on Monday, the People's Bank of China, the country's central bank, reduced the RRR for financial institutions by 0.25 percentage point, injecting about 500 billion yuan ($71.95 billion) in long-term liquidity.Experts said the cut will help maintain ample market liquidity at the end of the year and expand financial institutions' funding sources while reducing their funding costs. This will help boost their lending to the real economy, as part of the country's ramped-up efforts to stabilize economic growth in the face of COVID-19 uncertainties.Also, the move marks the second RRR cut this year following another one of the same extent in April, indicating that the...
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With a high frequency of supportive measures issued by financial regulators in November, the property market is expected to see a turning point in 2023 as market recovery continues to proceed, industry experts said.Since the beginning of November, the nation's financial regulatory departments have launched a wide range of policies one after another, covering credit, bonds, equity financing, presale supervision funds, and mergers and acquisitions of real estate developers, among others to ensure the property market's stable and healthy development.'These policies and gestures made from the central government level are extremely meaningful and the convergence of their effect will help boost market confidence and facilitate recovery,' said Wang Xiaoqiang, chief analyst with the Zhuge Real Estate Data Research Center.Although there remain uncertainties in the short term, Wang sees that supportive financial policies will strengthen market confidence, overcome the negative im...
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The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, on Sunday agreed to stick to its oil output target against the backdrop of sliding crude prices and an imminent Western countries' price cap on Russian oil.According to a statement released after the 34th OPEC+ ministerial meeting, the oil-producer alliance decided to reaffirm the decision of its previous ministerial meeting in early October, where it agreed to cut production by 2 million barrels per day from November until the end of 2023.The production cut equals about 2 percent of this year's global oil demand.In Sunday's statement, OPEC+ defended its output cut decision in October, saying it 'was purely driven by market considerations and recognized in retrospect by the market participants to have been the necessary and the right course of action towards stabilizing global oil markets.'The United States and other Western countries have accused OPEC+ of pushing up...
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China has introduced a catalogue of recommended energy-saving technologies and equipment to help enterprises improve energy efficiency and reduce costs.The catalogue, released by the Ministry of Industry and Information Technology, lists energy-saving technologies in the industrial and information fields, such as iron and steel, non-ferrous metal, data centers and telecommunications, among others.It has also recommended eight categories of energy-efficient equipment, including the likes of electromotors, transformers, industrial boilers and compressors.The catalogue is expected to accelerate the adoption of energy-saving technologies among enterprises, and encourage them to save energy while reducing carbon emissions, according to the ministry.
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BEIJING, Dec. 3 (Xinhua) -- China's road logistics price index remained stable in November, industry data shows.The index came in at 103.3 last month, up 1.8 percent year on year, according to a survey jointly conducted by the China Federation of Logistics and Purchasing and the Guangdong Lin'an Logistics Group.The sub-index for full truckload logistics price, which mainly measures bulk commodity and regional transportation, rose 1 percent over one year earlier to 102.9.The survey attributed the stable prices last month to factors including the promotion of e-commerce shopping and the market regulation mechanism, but noted the weakening demand and excessive market capacity.
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BEIJING, Dec. 4 (Xinhua) -- China's futures market reported 3.95-percent year-on-year growth in trading turnover in November 2022, industrial data showed.Total turnover reached 52.79 trillion yuan (about 7.48 trillion U.S. dollars) last month, up 58.09 percent from October, according to data from the China Futures Association.The market's trading volume climbed 55.68 percent from a month earlier to 700 million lots, the data showed.In the first 11 months of the year, trading was down 11.74 percent year on year to 6.1 billion lots, with a total turnover of 486.93 trillion yuan, the association said.
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China will conduct its fifth national economic census in 2023 to take stock of the country's economic and social development.The upcoming national economic census will carry out an input-output survey, the State Council said in a notice.The objects of the census include all legal entities, industrial activity units and self-employed households engaged in secondary and tertiary industry activities in China.The notice emphasized adhering to data quality, calling for efforts to ensure that the census data is true, accurate, complete and reliable.
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China will conduct its fifth national economic census in 2023 to take stock of the country's economic and social development.The upcoming national economic census will carry out an input-output survey, the State Council said in a notice.The objects of the census include all legal entities, industrial activity units and self-employed households engaged in secondary and tertiary industry activities in China.The notice emphasized adhering to data quality, calling for efforts to ensure that the census data is true, accurate, complete and reliable.
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