Page 3 - Cong Yi News Today

BEIJING, 24th October, 2023 (WAM) -- China's GDP grew by 4.9% year-on-year in Q3, surpassing economists' predictions of 4.4%. This demonstrates the continuing momentum of China's economic recovery, spurred by the introduction of various macro-policies since July.According to a Global Times report, Chinese analysts emphasise the strength and resilience of the Chinese economy. They believe China is on track to meet its annual growth target of approximately 5% this year. The analysts...

China released a series of positive economic indicators on Friday, including higher-than-anticipated exports, improving social financing data, and a rebounding consumer situation, signaling that the worlds second-largest economy is withstanding external pressure and on a path to sustained recovery bolstered by a range of supportive policy measures over recent months, observer said.

Chinas eight-day Mid-Autumn Festival and National Day holidays wrapped up on Friday, with the number of domestic trips and tourism revenue seeing robust growth and exceeding that of 2019, underscoring the robust recovery of the worlds second-largest economy.

Chinas major industrial firms saw their profit surge in August, reversing the downward trend and increasing by 17.2 percent from a year earlier, the latest sign of sustained recovery in the world’s second-largest economy as stimulus kicks in.

As the 8-day Golden Week holiday approaches, tourists are swarming to Chinas famous landmarks like Tiananmen Square in Beijing, the Bund in Shanghai, and West Lake in Hangzhou, East Chinas Zhejiang Province. The vibrant atmosphere, buzzing with excitement and activities, serves as a vivid reflection of the unwavering confidence of the Chinese people in the countrys economy and bright future.

China is moving swiftly to further accelerate what officials call the “new industrialization” process, aiming to upgrade traditional industries, cultivate new strategic industries, and promote advanced manufacturing and digitalization, a broad campaign to ensure the country’s industrial security and competitive edge amid rapidly rising global competition and risks.

(CTN NEWS) - China's central bank made a significant announcement on Thursday, revealing its decision to reduce the reserve requirement ratio (RRR), which

China’s central bank announced on Thursday that it would cut the reserve requirement ratio (RRR), the amount of cash that Chinese banks are required to hold as reserves, by 25 basis points effective Friday, sending another resounding signal that the world’s second-largest economy is moving swiftly to tackle challenges and boost the economic recovery.

Chinese authorities on Monday issued 20 measures to boost domestic consumption, including support for expanding real estate and auto sales, underscoring the country’s intensifying efforts to ensure steady economic recovery and meet annual economic development goals amid internal and external downward pressures.

All 31 provincial-level regions in the Chinese mainland have unveiled their first-half “economic report cards” as of Sunday, with eastern economic powerhouses leading the pack, driven by successful industrial upgrades and the rapid growth of new driving forces.