Browsing: China

China’s central bank declared on Friday its decision to maintain the status quo on a crucial policy rate, while withdrawing funds from a medium-term policy loan operation.

Amidst economic slowdown and a downturn in business sentiment, China has established a conservative official growth target of approximately five percent for the current year. Premier Li Qiang, delivering his work report at the National People’s Congress (NPC), pledged to generate 12 million jobs, striving to maintain the surveyed urban unemployment rate at around 5.5 percent. The week-long NPC session, attended by President Xi Jinping and over two thousand delegates, concentrates on vital initiatives to fortify the second-largest economy following the post-COVID-19 deceleration.

China sustained a fundamental equilibrium in its international payments last year, with the State Administration of Foreign Exchange (SAFE) reporting a current account surplus of $264.2B on Sunday.

China Mobile, the world’s largest mobile subscriber telecom carrier, has achieved a significant milestone by launching the world’s inaugural satellite for testing 6G architecture. This marks a pivotal advancement in exploring integrated space and ground communication technology.