The index tracking China's bulk commodity prices edged down 0.2 percent month on month in September, with the decline narrowing by 3.4 percentage points from the previous month, official data showed on Saturday.
The index, tracking the development of China's bulk commodity market, stood at 110.1 last month , according to the China Federation of Logistics and Purchasing (CFLP).
Among the 50 key types of products monitored by the CFLP, 14 saw prices increase on a monthly basis, due to rising market demand coupled with interest rates cut. Among them, the prices for natural gas, neodymium praseodymium oxide, and natural rubber increased month on month by 10.3 percent, 9.4 percent and 6.2 percent, respectively.
Experts pointed out that the global monetary cycle is likely to shift from a tightening cycle to an easing cycle, which is conducive to promoting corporate investment, boosting bulk commodity prices, and exerting a positive impact on bulk commodity supply and demand.
They also noted that the demand for bulk commodities is expected to be further released in the fourth quarter, encouraged by improvements in production and operation, as well as countercyclical adjustments in monetary and fiscal policies. This will lay a solid foundation for economic stabilization and improvement.
China's bulk commodity price index down 0.2 pct in September
Namibian President Nangolo Mbumba has encouraged China and other countries facing false narratives propagated by Western powers to embrace their own histories in order to move forward.
In an exclusive interview with China Media Group (CMG) aired on Friday, Mbumba called out Western scholars and commentators who have painted China as a "neo-imperialist" power rather than a country intent on pursuing peaceful development.
The president rejected this framing, stressing that China and African countries have fought shoulder-to-shoulder against imperialism and colonialism. That history, he said, should not be forgotten amid international efforts to pursue common development.
"I think one thing we must understand -- honoring your history. Honoring the history of the former leaders and honoring the culture and history of your own country come in many ways. Some people write about it. Some people invent things about it. Some people will produce energy, food and other things. Some other people respect and protect their own country, whether it is with their harbors or space or land or air. So, respect comes in many ways," Mbumba said.
"The 'amnesia' is the jealousy. We must admit that some people are just jealous of what China has become in such a short time getting so many millions of people out of poverty and hunger and putting them on par with the rest of the developed countries. But ours now is to make sure that we cooperate in the development around the economies, in the training of our people, in providing health to our people. You are now free, behave like free people and develop. Choose your friends and talk to your friends the way you want to talk and not to be told who to talk to and who not to engage with," added the Namibian president.
Honoring of history vital to overcoming false Western narratives: Namibian president
