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The Chinese economy continued to grow at a lackluster pace over the summer, according to data released on Friday, underscoring the urgency of the government’s recent attempts to bolster growth.
The jobless rate for 16-to-24-year olds in China, excluding students, fell to 17.6% in September from 18.8% a month prior, official data showed on Tuesday, offering officials relief after youth unemployment hit fresh highs for two straight months.
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China on Monday lowered its main benchmark lending rates by 25 basis points at the monthly fixing.
They call China’s stock market a “casino,” yet they are rushing in. They are betting money that the government really does want to finally crawl out of the hole it has dug. They are speculating, looking for short-term gains, with a great degree of uneasiness.
While the presidential palace declined to comment on her remarks, social media erupted with users labelling her “unhinged”, “crazy” and “dangerous’, and calling for her impeachment.
The government is mulling a two-tier price system for the country’s most-widely used fuel, so that the wealthiest 15 per cent pay the market rate for RON95 petrol while the rest enjoy the current subsidised price, Economy Minister Rafizi Ramli said on Saturday. That’s expected to save the government 8 billion ringgit (US$1.9 billion) a year – though it could also trigger second-round price increases and lead to a surge in inflation, he said.
China is set to sign up next year to an updated version of a bilateral free-trade agreement with Southeast Asian nations, consolidating its role in the region by enhancing trade, new energy cooperation and supply chain connectivity.