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BEIJING , Dec. 8, 2024 /PRNewswire/ -- At the end of 2024, we take a look back at the Chinese economy's performance this year. China's domestic GDP grew by 5.3 percent year-on-year in the first quarter, 4.7 percent in the second quarter and 4.6 percent in the third quarter this year, with an average growth rate of 4.8 percent in the first three quarters. Since September, as a package of incremental policies continues to yield its effects, China's economy maintains an upward trend. Overall, we are fully confident in achieving our economic growth goal this year. The country's economic performance has been hard-won. Externally, transformations around the world unseen in a century are unfolding at a greater pace, with global economic growth remaining sluggish, and the complexity, severity and uncertainty of the external environment on the rise. At home, domestic demand is insufficient, social expectations remain weak and there are difficulties associated with structural adjustments. The situation is severe and complex, and the task is difficult and weighty. However, under the strong leadership of the Communist Party of China Central Committee with Comrade Xi Jinping at its core, Chinese localities and government agencies are more confident and are taking solid steps to deliver outcomes. The results underscore that "fundamentals of the Chinese economy, and favorable conditions such as a vast market, strong economic resilience and great potential remain unchanged." Huge market, vast space Markets are the scarcest resource. The modernization achieved by 1.4 billion Chinese people has resulted in the addition of a new super-large market larger than those of all developed countries combined. The new development paradigm will enable China to fully unlock its market potential and create greater demand for other countries. With a new car rolling off production line on November 14 , China's annual production of new energy vehicles (NEVs) surpassed the 10 million milestone, becoming the first country in the world to do so. Behind the number is China's robust supply and demand. In the first 10 months, China's production and sales of NEVs grew by 33 percent and 33.9 percent year-on-year, respectively. China continues to take the lead in the electrification and intelligence transformation of the automotive industry, which is attributed to the supply, policy support and demand advantage in the ultra-large market. Markets bring valuable business opportunities. Take cars for example. By the end of June, China had 345 million cars, but the country's car ownership level per 1,000 residents is less than half of that in developed countries. Additionally, China's NEV ownership is only 24.72 million, which means continuous demand in the future. Markets breed competition advantages. China's vast market contributes to the formation of "economy of scale" and "economy of scope," which generates greater profits for enterprises and reduces innovations costs, and also helps provide a large number of application scenarios and boost the large-scale application of innovations. China leads the world in batteries, motors and electronic control technologies, while its intelligent cockpits and intelligent driving are internationally advanced. Thanks to the benign interactions between supply and demand, the industrialization of new technologies and new products is speeding up. Strong resilience, solid basis Resilience strengthens self-belief. China has come to where it is today after overcoming all kinds of difficulties and challenges. Foreign trade is an important barometer in this regard. In the first 10 months of the year, China's foreign goods trade rose by 5.2 percent year-on-year to reach a new high compared with the same period historically. The improvement in the quality and efficiency of the country's foreign trade against the backdrop of shrinking external demand reflects China's economic resilience. This resilience originates from China's solid manufacturing basis and industrial chain advantages. "We could not do what we do without them," Apple CEO Tim Cook said of Chinese suppliers during his third visit to the Chinese mainland this year, as over 80 percent of Apple's 200 major suppliers have set up factories in China . China has the world's most comprehensive industrial categories and a well-rounded industrial system, with the scale of manufacturing industry ranking top for 14 consecutive years. The high-end, intelligent and green development of the manufacturing sector continues to strengthen the stability of the country's industrial and supply chain. In the first three quarters, the manufacturing industry contributed 32.2 percent to the country's economic growth, up 11.2 percentage points. China moved up to 11th place in the ranking of the world's most innovative economies. The basis is solid, and risks and challenges are not to be feared. Resilience also comes from excellent policy adjustments. The nation has been strengthening counter-cyclical adjustments, accelerating the implementation of major national strategies and the development of securities capabilities in key areas while supporting large-scale equipment upgrades and trade-in policies for consumer goods with robust measures, boosting the stabilization of the property market and galvanizing the capital market. The government has also put forward a package of measures to dissolve local government debt risks. This year, a series of existing policies continue to produce effects and incremental policies are being effectively implemented, jointly helping the economy stabilize. Vast potential, strong momentum China's economy has vast potential and many advantages and favorable conditions for sustaining long-term development momentum. China has been the world's second-largest economy for many years, but still has vast development potential in terms of per capita and structure. China's per capita GDP remains relatively low, and the country's amount of infrastructure per capita is only 20-30 percent of that of developed countries. In 2023, China's urbanization rate, which measures the ratio of permanent urban residents relative to the total population, reached 66.2 percent by the end of 2023. Estimates show that each percentage point increase in the urbanization rate could drive 1 trillion yuan ( $137.55 billion ) in investment. Currently, both China's fiscal deficit ratio and government debt ratio are low, and the country's policy toolbox remains well-stocked. The potential also lies in elementary resources. China's human resources in science and technology ranked first in the country and the average length of education received by new entrants into the workforce has increased to 14 years, turning the demographic dividend into a talent dividend. In addition, overall sufficient social capitals, vast room for the highly efficient use of land and the vast unleashing of the potential of digital elements provide solid foundational support. This potential also comes from the huge market. The country's population of over 1.4 billion and middle-income population of over 400 million support a large-scale, diverse and huge domestic market. Accelerating the building of a unified national market will improve overall economic operation efficiency and continuously unleash the potential of domestic demand. Overall, China is a country with vast territory, a large population and unbalanced and uncoordinated development. This is a shortcoming, but also represents potential and a driving force for future development. Sparking vitality and building synergy through reform is essential to continuously unleashing development potential. From implementing regulations for fair competition reviews, accelerating the legislative process of the law on the promotion of the private economy and formulating normal communication mechanisms between governments and enterprises, to releasing a new national negative list for foreign investment and removing all market access restrictions for foreign investors in the manufacturing sector, China's reforms in key fields continue to deepen this year and high-level opening-up advances in an in-depth way. The third plenary session of the 20th Central Committee of the Communist Party of China adopted the Resolution of the CPC Central Committee on Further Deepening Reform Comprehensively to Advance Chinese Modernization. Driven by reform of the economic system, China is correspondingly boosting reform in other fields, and the internal development momentum and vitality will continue to strengthen. Reviewing allows a clear understanding of the situation and better moving forward. While some major economies experience low growth rates and high inflation this year, China is expected to achieve its economic growth target of around 5 percent, and continue to contribute around 30 percent to world economic growth. This stable performance underlines the fact that China's economy will continue to remain on a positive trajectory over the long run. The story was originally published on the front page of the People's Daily on December 8, 2024 View original content: https://www.prnewswire.com/news-releases/global-times-peoples-daily-article-says-favorable-conditions-for-chinas-economic-development-remain-unchanged-302325568.html SOURCE Global TimesDaily Post Nigeria Buni approves N70,000 minimum wage in Yobe Home News Politics Metro Entertainment Sport News Buni approves N70,000 minimum wage in Yobe Published on November 23, 2024 By Shehu Usman Yobe State Governor, Mai Mala Buni has approved the payment of N70,000 as minimum wage to civil servants in the state. The implementation of the new salary scale will commence in December 2024. This was disclosed in a statement signed by the governor’s spokesman, Mamman Mohammed, and made available to newsmen on Saturday. According to the statement, the approval is contained in a memo signed by the governor following recommendations by the Committee on Minimum Wage constituted by the state government. “The committee had recommended for a reconciliation of local government finances to ensure a hitch free transition process of the local government councils from the existing salary structure to the new minimum wage. “The reconciliation process, which is nearing completion, is expected to be concluded soon for approval, and quick enrolment of the local government employees into the new minimum wage salary structure,” the statement added. The statement noted that civil servants in the state are expected to reciprocate the gesture by putting in their best to ensure effective and efficient service delivery. Related Topics: Buni Minimum wage yobe Don't Miss NECO accredits more foreign schools for SSCE, BECE You may like Ignore fake strike notice, we did not issue it – NLC to civil servants in Yobe Minimum wage: Zamfara NLC threatens indefinite strike Troops kill notorious terrorist in Yobe, neutralise 114 others nationwide Yobe: NSCDC arrests four suspected vandals, uncover over 100 motorcycles hidden in FG’s silos Hisbah destroys 170 bottles of confiscated liquor in Yobe Minimum Wage: Labour postpones planned strike in Cross River Advertise About Us Contact Us Privacy-Policy Terms Copyright © Daily Post Media Ltd

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Global Times: People's Daily article says favorable conditions for China's economic development remain unchanged

Hrithik Roshan, who assisted his father Rakesh Roshan in Karan Arjun, shared his fond memories about the film and its shoot. Taking to Instagram, Hritik wrote, “The Karan Arjun experience Ha , I look like a young Kabir with Karan and Arjun". Kabir is Hrithik’s character from the movie War. ‘Salman Khan Loved It, Shah Rukh Didn’t Believe in It’: Rakesh Roshan Opens Up About ‘Karan Arjun’ (Watch Video) . Hrithik continued, “As an assistant , I remember Minerva being the main theatre on release day. Me and dad’s other assistant Anurag (2nd pic in the white sweatshirt), screened the print before the release and we were all incredibly disappointed . The print looked dark and dull. We got the the entire screen washed and as the dirt and grime dissolved into the large washcloth, we heard the manager say. The screen has been washed after 15 years." ‘Karan Arjun’ Re-Release: When Mamta Kulkarni Praised Shah Rukh Khan for Being an Engaging Actor and ‘Warm Person’ (Watch Throwback Video) . googletag.cmd.push(function() { googletag.display('div-gpt-ad-1560419204258-2'); }); View this post on Instagram A post shared by Hrithik Roshan (@hrithikroshan) Hrithik also highlighted another interesting fact and wrote, “Another fun fact , during the song bhangda paale, one late night, a more than merry team of Shahrukh and Salman decided to leave Sariska by car and drive to Delhi promising to be back by morning.I was flabbergasted and jumped ( literally ) on the bonnet of the car to stop them. The call time was 6am and I had to make sure my dad didn't lose the day. He didn’t.” Hrithik ended the post by revealing how Shahrukh and Salman together made a great impact on him: “Watching Salman and Shahrukh act was a huge learning for me as a 17-year-old. It was the best on-set practical acting school ever. KARAN ARJUN is running in theatres again.” Hrithik also shared some nostalgic pictures from the sets of Karan Arjun . In the first black-and-white picture, he can be seen posing with Shah Rukh Khan (SRK) and Salman Khan. The second picture is from the song " Bhangda Paale ", where SRK and Salman are dressed in kurtas and black pyjamas, and Hrithik can be seen smiling on set. (The above story first appeared on LatestLY on Nov 23, 2024 08:58 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com ).

Human remains have been found inside the wreckage of a small plane recovered from the North Sea. The aircraft was found at about 2.20pm on Friday (December 6) in waters north east of Lerwick in Shetland. The plane was brought ashore on Sunday (December 8) by Peterhead fishing boat Barnakle II and was found to contain human remains. Police met the trawler at the port and the wreckage loaded onto a truck. It is understood to have been taken for further examination. According to reports, Police Scotland said: "Police received a report of a small aircraft having been recovered from the water in the North Sea, north-east of Lerwick, around 2.20pm on Friday December 6. "The aircraft was brought to shore on Sunday December 8, and human remains were found within." Investigations into the discovery are ongoing but it is being linked to an aircraft from Germany with the 62-year-old pilot on board which lost contact over the North Sea last September 30. It took off at 10.27am and is understood not to have filed a flight plan. The pilot was reported to be experienced and in good health. The last radar contact with the plane was recorded by Norwegian air traffic control at 4.45pm, around seven minutes after it began descending at a rate of 1,000 feet per minute. A search was launched after the Cessna was reported missing by its owner on October 1, when the pilot did not return at the agreed time. The coastguard supported German authorities in searching for the Cessna 172S Skyhawk between Shetland and Norway, in the UK search and rescue region. However, HM Coastguard said at the time there was no sign of the plane and the search was stood down on October 2. The incident was investigated by the Bundesstelle für Flugunfalluntersuchung, or the German Federal Bureau of Aircraft Accident Investigation. Following the discovery of the wreckage, one well-wisher in Shetland posted on social media: "Hopefully closure for family of the pilot and plane that went missing last October."El Salvador Congress votes to end ban on metal mining

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