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China-Egypt foreign ministers' strategic dialogue held in Beijing

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China-Egypt foreign ministers' strategic dialogue held in Beijing

2024-12-13 20:24 Last Updated At:22:37

Chinese Foreign Minister Wang Yi and his Egyptian counterpart Badr Abdelatty co-chaired the China-Egypt foreign ministers' strategic dialogue in Beijing on Friday.

During the event, Wang, who is also a member of the Political Bureau of the Communist Party of China Central Committee, said the dialogue has come at a critical juncture as the regional and international situations are undergoing major changes.

This year marks the 10th anniversary of the establishment of the China-Egypt comprehensive strategic partnership and both sides also promise to work for higher goals together.

Wang said that China is willing to strengthen strategic communication and coordination with Egypt and make joint contributions to regional peace and stability and global development.

Abdelatty said Egypt is ready to work together with China to improve global governance and make the international order more just and equitable.

Later, in a joint press conference, the two ministers summed up more of the consensus reached in the dialogue, including promoting talks for peace and stability in the Middle East, and Wang also laid out China's take on Syria.

"China has long pursued a policy of friendship and cooperation with Syria, never interfered in Syria's internal affairs, and respected the choice of the Syrian people. We support Syria in realizing peace at the earliest, implementing Security Council resolution 2254, advancing the domestic political process in accordance with the principle of 'Syrian-led, Syrian-owned,' and finding a rebuilding plan that meets the wishes of the people through inclusive dialogue," Wang said.

On the situation in the Middle East, the Chinese foreign minister said the only way out is dialogue and negotiation.

"The pressing task is to immediately cease fire, stop violence and ease the humanitarian crisis. It is necessary to abide by all UN Security Council resolutions, stop taking actions that could escalate regional tensions, and avoid creating new obstacles to achieving a ceasefire. The fundamental way out is to adhere to political settlement and resume dialogue and negotiation," said Wang.

He also added that as the Middle East strives for peace and stability, China would continue to be the friend of countries in the region and continue to promote peace there and support its development through solidarity, and remain a long-term trusted partner of the Middle East countries.

China-Egypt foreign ministers' strategic dialogue held in Beijing

China-Egypt foreign ministers' strategic dialogue held in Beijing

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China's financial sector boosts support for real economy with targeted lending

2024-12-14 09:12 Last Updated At:10:37

China's financial sector is ramping up its support for key fields and weak links of the real economy by providing robust loans and continuing improving its credit structure.

In November, there was a significant growth in loans to both the manufacturing sector and innovative enterprises, reflecting the country's ongoing efforts to upgrade and transform its economy.

Medium- and long-term loans to the manufacturing sector rose by 12.8 percent year on year, while loans to innovative enterprises that use specialized and sophisticated technologies to produce novel and unique products increased by 13.2 percent. Inclusive loans to micro and small enterprises (MSEs) grew even faster, up 14.3 percent. All of these categories outpaced the overall loan growth rate, signaling an improved lending structure aligned with national economic priorities.

Meanwhile, the loan interest rates in China have remained at historic low levels, with a steady decline in corporate financing and household credit costs.

According to data from the People's Bank of China (PBOC), in November, the weighted average interest rate for newly issued corporate loans stood at 3.45 percent, 2 basis points lower than the previous month and 36 basis points lower than the same period of last year. The interest rate for newly issued personal housing loans came in at 3.08 percent, 7 basis points lower than the previous month and 92 basis points lower than the same period of last year, both reaching historic lows.

Personal loans have stabilized recently. PBOC data showed that, in October, the amount of personal housing loans issued exceeded 400 billion yuan (54.97 billion U.S. dollars), and the amount of early repayments decreased.

China's financial sector boosts support for real economy with targeted lending

China's financial sector boosts support for real economy with targeted lending

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