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China's top legislator meets with visiting Finnish president on relations

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China's top legislator meets with visiting Finnish president on relations

2024-10-29 20:50 Last Updated At:23:57

China's top legislator Zhao Leji met with visiting Finnish President Alexander Stubb in Beijing on Tuesday to discuss relations between their two countries.

At the meeting, Zhao, chairman of the National People's Congress (NPC) Standing Committee, said that over the past 74 years since the establishment of diplomatic ties between the two countries, China-Finland relations have maintained a good momentum of growth, setting an example for peaceful coexistence and friendly exchanges between countries of different sizes, cultures and systems.

China is willing to work with Finland to implement the important common understandings reached by President Xi Jinping and President Stubb, enhance strategic mutual trust, expand mutually-beneficial cooperation, advance people-to-people exchanges, and strengthen multilateral cooperation, so as to promote sustained and steady growth of future-oriented new-type cooperative partnership between China and Finland, Zhao said.

Zhao said the National People's Congress of China will work with the Finnish parliament to carry forward traditional friendship, strengthen communication and cooperation, and enhance exchanges of experience in legislative and supervisory work and governance, in contributing to the development of China-Finland relations.

Noting that Finland values its relations with China, Stubb said Finland is willing to expand exchanges and cooperation with China in various fields, strengthen exchanges between the legislative bodies of the two countries, support multilateralism and free trade, and jointly address global challenges.

Stubb is paying a state visit to China from Oct 28 to 31 at the invitation of Xi.

China's top legislator meets with visiting Finnish president on relations

China's top legislator meets with visiting Finnish president on relations

China's top legislator meets with visiting Finnish president on relations

China's top legislator meets with visiting Finnish president on relations

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ECB cuts interest rates by 25 basis points

2025-03-07 03:04 Last Updated At:03:17

The European Central Bank (ECB) announced on Thursday that it would slash key interest rates by 25 basis points in a bid to wind down the restrictive monetary policy.

Effective from March 12, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 2.50 percent, 2.65 percent and 2.90 percent respectively, said the central bank in a statement.

The disinflation process is well on track, with headline inflation averaging 2.3 percent in 2025, 1.9 percent in 2026 and 2.0 percent in 2027, the ECB said.

The decision to keep on cutting rates came at a time when the economy in the eurozone is facing increasing uncertainties.

In its latest edition of the staff projections on Thursday, the ECB lowered its forecast for economic growth in the eurozone to 0.9 percent for 2025, 1.2 percent for 2026 and 1.3 percent for 2027.

This marks a downward revision from the ECB's forecast in December last year, which had projected 1.1 percent growth in 2025 and 1.4 percent in 2026, while the 2027 outlook remains unchanged.

The ECB attributed the weaker growth outlook for 2025 and 2026 to declining exports and sluggish investment, citing high trade policy uncertainty and broader economic instability as key factors.

ECB cuts interest rates by 25 basis points

ECB cuts interest rates by 25 basis points

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