China sets out economic, political, military vision
Asian markets will likely open on the front foot on Monday, following Wall Street's whoosh higher on Friday, but a raft of Chinese economic data and remarks from U.S. Fed Chair Jerome Powell later in the week could quickly shift sentiment.
The annual session of the National People's Congress, and reports from the finance ministry and state planner - the National Development and Reform Commission - have outlined Beijing's broad goals and plans for the year ahead. Perhaps most significantly, Beijing said it would boost defence spending by 7.2 per cent - up on last year's rate of increase and outpacing expected GDP growth - as Premier Li Keqiang called for the armed forces to boost combat preparedness.
Inflation figures from South Korea, The Philippines, Thailand and Taiwan this week will be closely watched by investors and policymakers alike. With the Fed seemingly on track to tighten policy further, a renewed rise in the dollar could intensify FX-fueled inflationary pressures in Asia.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Michelle Yeoh on Jamie Lee Curtis: ‘We Fell in Love on First Email’It feels as if Michelle Yeoh, 60, and Jamie Lee Curtis, 64, were destined to star together in Everything Everywhere All at Once, and it's a good thing they did, because the two have developed a close friendship as a result. “The love between me and Jamie Lee Curtis, it's all real, yeah,” Yeoh told People in a recent interview. “We have known each other for many years.” However, according to Yeoh, it was EEAAO that really brought her and the Freaky Friday star closer, and their connection happene
Read more »
5 Southeast Asian countries unite to nominate kebaya for UNESCO Intangible Heritage ListThe kebaya, a traditional Southeast Asian garment, is being nominated by Indonesia, Brunei, Malaysia, Thailand and Singapore for 2023’s UNESCO Intangible Heritage List. Singapore has been running a campaign on Facebook to get the kebaya included on UNESCO’s list since it first announced the effort in a press release on Nov. 23, 2022.
Read more »
Economic growth expected to take precedence at China’s annual legislative meetingSince the lifting of its zero-COVID policy in December last year, economic activity has been set abuzz and local demand is expected to be a key driver of growth this year.
Read more »
Traditional costumes see growing popularity among youngsters in ChinaMore young people are wearing traditional clothes as a way to preserve tradition. Read more at straitstimes.com.
Read more »
China to support insurance asset management firms to conduct securitisation, REITs, regulator saysBEIJING : China's securities regulator on Friday published guidelines that encourage insurance asset management firms to conduct securitization and real estate investment trust (REITs) businesses.The rules are aimed at expediting the listing of infrastructure projects in the form of asset-backed securitie
Read more »