MARKET WRAPS Stocks: European stocks rose modestly on Wednesday, with investors readying for the latest Federal Reserve policy decision and after data showed U.K. inflation slowed. -September 20, 2023 at 05:39 am EDT
- MarketScreener
The upbeat tone of officials speaking at a news conference in Beijing was in contrast to forecasts by the Asian Development Bank and the Organization for Economic Cooperation and Development, which say weakness in the Chinese economy are expected to further dent global and regional growth. Cong Liang, vice chairman of China’s chief planning agency, the National Development and Reform Commission, told reporters that the country’s resilience during past crises was grounds for confidence and that improved factory output and tourism figures show the economy is on the mend. “Facts have fully proved that the decision-making arrangements of the party Central Committee and the State Council (China's cabinet) are correct and the macro-control policies are effective,” Cong said in the briefing, which was carried online.
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