In a significant move to further bolster the private sector, a crucial driving force for the country s economic output, China announced on Monday that it has set up a bureau specializing in promoting the private economy s development under the country s top economic planner.
After a series of Chinese policymakers back-to-back policy measures to boost the economy in the second half of 2023, many around the world are keeping a close eye on China s forthcoming economic data for July to gauge the recovery trajectory of the world s second-largest economy amid downward risks in other major economies.
The New Development Bank (NDB), also known as the BRICS bank, is in talks with Saudi Arabia on admitting Riyahd as its ninth member, which would strengthen the NDB s funding options amid the impact of the Russia-Ukraine conflict, according to media reports.
Chinese Premier Li Qiang said that China s platform economy has provided new space for expanding demand, a new engine for innovative development, new channels for entrepreneurship and recruitment, and new support for public services, which has had a growing and prominent role in the development landscape.
While the Indian consumers have not received any benefit from the cheap import of crude oil not even a rupee’s benefit the Chinese economy is being boosted: Gourav Vallabh