Experts and financial institutions from China and abroad expressed their confidence in the Chinese economy during the annual conference of Financial Street Forum 2024.
After China's fiscal authorities introduced a range of policies earlier this month, aiming at expanding effective domestic demand and promoting high-quality economic development, Chinese and global investors have shown active responses. As the barometer of economic development, the positive shift in the capital market reflects a bright future for the Chinese economy, said Jin Li, vice president of the Southern University of Science and Technology.
"We have witnessed that the capital market is significantly turning positive. We can argue that the financial capital market, as the barometer of economic development, is now reflecting the resilience of Chinese economic development and its promising future. I am very confident about the development of the Chinese economy and the Chinese capital market constantly showing a positive trend," said Jin.
Foreign investors and experts echoed this sentiment and shared their high hopes for the future of the Chinese economy during the conference, especially given the recent government policies.
"I think if we see maybe some more policies, consistent policies, we are likely to see more economic activity, a bit more improvement into 2025. So, we are still very positive on the China market," said Shaun Brodie, head of Research Content of Cushman & Wakefield Greater China.
Guests at Financial Street Forum confident in robust Chinese economy
Over 2,000 officials and experts from African countries have gathered at an annual event dedicated to water resource management in the Egyptian capital of Cairo, discussing issues related to water security on the continent and climate change to boost continental cooperation in water resources.
The 7th Cairo Water Week, held in Cairo from Oct 13 to 17, coincided with the 9th African Water Week to address problems which affect much of the African continent. The aim is to help vulnerable countries finance crucial water-security projects and elevate the issue on the wider climate-change agenda.
A total of 2100 participants and 25 senior officials from 93 countries, as well as 77 international organizations, joined the two events to focus on Africa.
"I am happy that the Cairo Water Week and Africa Water Week were combined in a truly international event. The importance here is, and we saw it in the summary, an importance of how we finance the developmental gap that Africa is experiencing in the water sector, how do we bring water back to the center stage of the climate change agenda, and how do we deal with transboundary matters that are a serious cause of conflict," said Calle Schlettwein, Namibian Minister of Agriculture, Water and Land Reform.
Experts and decision makers intensively discussed food security, as agriculture remains the continent's most water consuming industry. The uniqueness of the event this year brought together various stakeholders, including younger generations.
"It is not a conference only for scientists, it's not only for experts. Cairo Water Week is owned by every one of these stakeholders, civil society, governments, ministers. So you see here, ministers, but here you can see school students, you see there some farmers, and here you see some NGOs (Non-Governmental Organizations). That is the power of the Cairo Water Week," said Hany Sweilam, Egyptian Minister of Water Resources and Irrigation.
Earlier this year, Egypt established the Pan African Center for Water and Climate Adaptation to be a knowledge sharing hub and a tool for continental capacity building. The UNESCO accredited organization offers programs and training tools to empower Africans with the latest developments in managing and reusing water resources.
"We realized that definitely we need to increase the allocation towards the water and sanitation sector under that theme because the financing gap is quite huge, about 70 percent. We have a challenge of having access to safely managed water and sanitation on the continent. We also looked at issues related to water resources management, issues related to water for infrastructure development, issues related to climate change and disaster risk reduction," said Nelson Gomonda, Director of Programs of the African Ministers Council on Water.
During the week-long conference, Cairo signed agreements with Nigeria, Kenya and Somalia to collaborate on building digital tools, smart climate solutions and jointly train new calibers to lead Africa's aspirations in achieving its Agenda 2063 goals when it comes to water security.
Officials, experts gather in Cairo to address continent’s water security
Officials, experts gather in Cairo to address continent’s water security
