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 Kin...
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2022
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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, Indones...
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2022
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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 t...
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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 f...
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2022
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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 y...
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2022
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