Chinese President Xi Jinping spoke on the phone with Germany’s new Chancellor Olaf Scholz on Tuesday, in which the two leaders pledged to inherit and advance China-Germany friendship and cooperation, maintain close communication on hotspot issues and jointly defend multilateralism in international affairs.
China’s central bank announced on Monday a 50 basis-point universal cut in the reserve requirement ratio (RRR) for financial institutions, effective from December 15, which would inject 1.2 trillion yuan ($188.3 billion) in long-term liquidity into the economy, as the country’s top leadership stressed stability in economic development in 2022 at a tone-setting meeting on .
China is on its way to achieve economic growth well above its target this year with controlled inflation despite the threats posed by COVID-19 variants and supply constraints,.