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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 TimesNo one knows what will do now that her two-year Vegas residency is done — perhaps least of all Adele. The singer told her final audience at Colosseum Theatre at Caesars Palace on Saturday night that “I will miss you terrible” and “I don’t know when I’m next going to perform again.” “I’m not doing anything else,” she added, per from the event. “I’m actually shitting myself about what I am going to do. I don’t have any fucking plans.” Adele’s “Weekends With Adele” residency ran from November 2022 to November 2024, with two performances every week. Over the summer, she told fans she would from new music when the residency concluded. On Saturday, she said “of course I’ll be back, the only thing I’m good at is singing. I just don’t know when I’m want to next come onstage.” Also in her goodbye speech, Adele thanked her 14-year-old son, Angelo, and her partner, sports agent Rich Paul. “To my son, I chose to do a residency mainly because I fucking hate touring,” the singer said through tears. “But I chose to do a residency so I could keep his life normal. And I did do that. But I also — I wouldn’t change it for the world, but I get to be with him on the weekends now because obviously he can’t always come. So I love you to bits. Thank you for being patient for me.” To Paul, she added: “Thank you for always bigging me up and making me feel like I could do whatever I wanted to do. There’s been times when I’m too tired or I’m too emotionally drained ... so I appreciate that.” She then took a moment onstage to say she got “closure” over the residency’s end when Celine Dion attended the show in October. “I cried for a whole week. A whole week,” she said (both singers , too). “It was just such a full-circle moment for me. Because that’s the only reason I ever wanted to be in here.” THR Newsletters Sign up for THR news straight to your inbox every day More from The Hollywood ReporterBD becomes member of Global Alliance Against Hunger and Poverty
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Former President Jimmy Carter , the 39th president of the United States, was honored by multiple lawmakers on social media following the news of his death on Sunday afternoon. Carter’s death, confirmed by his son Chip Carter and shortly after by the Carter Center , comes just under three months after the former president celebrated his 100th birthday . The death of the former president, the nation’s only Georgian to hold the position, was preceded by the death of his wife, Rosalynn Carter , who died in November 2023. JIMMY CARTER TURNS 100: SNAPSHOTS OF HIS LIFE BREAKING - Former President Jimmy Carter died at the age of 100 Sunday. DETAILS: https://t.co/z08s3SIhO7 pic.twitter.com/J8FFIHBpUt — Washington Examiner (@dcexaminer) “Today, I join Americans across the country in mourning the loss of our 39th President, Jimmy Carter,” Rep. Mike Collins (R-GA) posted on X. “Born in a small town in Georgia, President Carter’s dedication to public service, leadership, humanitarian work, and Christian spirit touched the lives of countless individuals.” Today, I join Americans across the country in mourning the loss of our 39th President, Jimmy Carter. Born in a small town in Georgia, President Carter’s dedication to public service, leadership, humanitarian work, and Christian spirit touched the lives of countless individuals.... pic.twitter.com/ri6LuUCBXl — Rep. Mike Collins (@RepMikeCollins) Shortly after Carter’s death was announced, the Empire State Building in New York City announced it would be illuminated in red, white, and blue lights to honor the former president. Tonight we will shine in Red White and Blue to honor the life and legacy of President Jimmy Carter 📷: captiv_8/IG pic.twitter.com/xIksQuUp68 — Empire State Building (@EmpireStateBldg) Suzanne and I join our nation to mourn the passing of Jimmy Carter, a devoted public servant and 39th President. He served our country in the Navy, as a Georgia state senator, and as the Governor of Georgia. We are praying for the Carter family during this difficult time. His... — Glenn Youngkin (@GlennYoungkin) Our founder, former U.S. President Jimmy Carter, passed away this afternoon in Plains, Georgia. pic.twitter.com/aqYmcE9tXi — The Carter Center (@CarterCenter) We pray for the peace of the Lord to be with former President Jimmy Carter and his family. We are deeply grateful for his years of sacrifice, including his tireless work building homes through Habitat for Humanity and his dedication to supporting the incarcerated. We also honor... — Lt. Governor of Virginia - Winsome Earle-Sears (@WinsomeSears) We disagreed on many issues and how he ran our country, but his humanity is undeniable. Prayers for his family, and may God grant him mercy. Rest in peace, President Jimmy Carter. 🕊️ — Rep. Anna Paulina Luna (@RepLuna) Rest in peace, President Jimmy Carter. May you be welcomed into the arms of Jesus in heaven. Our thoughts and prayers are with your family at this difficult time. pic.twitter.com/rNTSxiMBfe — Kari Lake (@KariLake) CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER Carter’s presidency , lasting only one-term from 1977 through 1981, was set back by numerous foreign policy events like the Iranian hostage crisis. Despite this, the former president received increased popularity following his time in the White House, specifically for his work with the housing nonprofit organization Habitat for Humanity. The former president’s political career started in 1963 as a Georgia state senator, in which he ran on the platform of racial inclusion and integration. Prior to politics, Carter was a Naval Academy graduate, in which he served from his graduation in 1946 until 1953.
Ollie Robinson Named as Replacement for Cox in New Zealand Test SeriesJammu, Nov 24 (PTI) A comprehensive security review of Shiv Khori shrine and its adjoining areas was conducted in Jammu and Kashmir's Reasi district on Sunday, a police spokesman said. Nine persons were killed and 40 others injured when the terrorists attacked a pilgrim bus returning from Shiv Khori temple at Teryath village on June 9. Reasi Senior Superintendent of Police (SSP) Paramvir Singh conducted the security review of Shiv Khori Shrine in Ransoo and its adjoining areas to ensure robust security measures and effective crowd management for the safety of pilgrims and locals, the spokesman said. The officer inspected the security arrangements along the yatra route, including the main track, where additional measures have been implemented to enhance surveillance. He emphasized maintaining strict vigilance against anti-national and anti-social elements and issued specific directions to the district police and the CRPF officers for bolstering security protocols, the spokesman said. The SSP also interacted with Road Opening Party (ROP) commanders enroute from Pouni to Ransoo to assess their preparedness. Highlighting the importance of preemptive measures, Singh directed the officers to carry out verification and census of migrants, workers, pony porters and other individuals operating in Ransoo town and surrounding areas. Random checks of hotels and residential accommodations were also instructed to verify the antecedents of the visitors and prevent any suspicious activity, the spokesman said. Acknowledging recent attempts to revive militancy in certain parts of Reasi district, the SSP instructed the officers to revisit the list of Over Ground Workers (OGWs) of terrorists with police stations. He also stressed the need for rigorous monitoring of social media platforms such as Facebook and WhatsApp to counter emerging patterns of radicalization. The SSP also supervised ongoing cordon and search operations in the Pouni-Ransoo belt and reiterated the importance of inter-agency coordination and cooperation. He urged all security forces deployed in the area to work in synergy to prevent any untoward incident, the spokesman said. (This story has not been edited by THE WEEK and is auto-generated from PTI)
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