China intends to reduce interest rates to enhance the economy

The Chinese Central Bank President announced that Gong Shang, that China will reduce interest rates and the compulsory reserve rate during the next year to support the economy, based on local and international economic and financial conditions.

China seeks to achieve an economic growth goal of 5% for 2025, despite global challenges and the slowdown in domestic demand. It also plans to launch major projects in the railway, nuclear energy and water sectors, with the aim of stimulating private investments.

This comes amid an extended crisis in the real estate sector and the weakness of consumer spending, which increases the pressure on the government to revive the economy. (Sky News)