The euro pushed to a near four-month peak as German political parties agreed to a 500-billion-euro infrastructure fund. Sterling also stood tall near a three-month high.
China will aim for economic growth of about 5 percent this year, will improve policies supporting childbirth and remain firm in advancing the cause of 'China reunification", the parliament has been told
.China's economy grew by 8.1 percent in 2021 to about $18 trillion a performance that was stated to be the best in a decade
The government is seeking to onboard a leading HR consultancy firm to study the organizational structures and the work allocation documents of seven key ministries and departments, including the Ministry of Finance and Ministry of Health, as part of the ambitious ‘Mission Karmayogi’ project of Prime Minister Narendra Modi.
Sakshi Batra does a 3 point analysis of the highlights of the opening session.
China will "pursue better results in actual economic work", Premier Li said while addressing the country's rubber-stamp parliament, the National People's Congress (NPC), which has gathered in Beijing for its annual session.
China's economy, long a reliable source of growth, expanded 6.9 per cent year on year in 2015, the slowest rate in 25 years, weighed down by a property market downturn, falling trade and weak factory activities.
"The BRICS (Brazil, Russia, India, China and South Africa) New Development Bank (NDB) is a landmark event in fiscal cooperation among the five emerging economies," Chinese Foreign Ministry spokesperson Hua Chunying told a media briefing on Wednesday.
The increase of the defence spending was announced by Premier Li Keqiang in his work report submitted to the China's legislature the National People's Congress (NPC) which began its 10-day annual session here on Thursday.
Chinese Prime Minister Li Keqiang on Thursday said risks would be strictly prevented and controlled by imposing ceilings and bringing it under budgetary management, allaying concerns over the mounting debt of local governments.
The People's Bank of China (PBOC) cut benchmark interest rates by 25 basis points to 5.35 percent on February 28 as deteriorating economic conditions forced the central bank to shorten the time gap between policy moves. It had already delivered a lending rate cut on November 21 and a reserve requirement ratio cut (RRR) on February 5.
China still had some 100 million rural residents living in poverty though their numbers dwindled to nearly 67 million during 2010 to 2012, according to an official report. By the end of 2012, there were nearly 100 million rural residents still living in poverty, the report issued by the State Council or China's cabinet, said.
China's old guard led by President Hu Jintao today bowed out of power after highlighting the communist giant's rise as a world power during their decade long rule, paving the way for new leader Xi Jinping to assume charge of the world's second largest economy.