2024-10-18 Xinwen Lianbo Text Version
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2024-10-18 Xinwen Lianbo Text Version

Xi Stresses Leveraging Multiple Development Strategies for Anhui's Modernization

Xi Jinping, General Secretary of the CPC Central Committee, President of the People's Republic of China, and Chairman of the Central Military Commission, recently emphasized during his inspection tour in Anhui that the province should thoroughly implement the spirit of the 20th CPC National Congress and the Third Plenary Session of the 20th CPC Central Committee, fully implement the new development philosophy, leverage its multiple national development strategies, and continuously strive to build itself into an important source of scientific and technological innovation, a hub for emerging industries, a new high ground for reform and opening up, and a comprehensive green transformation zone for economic and social development. He urged Anhui to make new and greater progress in deeply integrating into the new development paradigm, promoting high-quality development, and building a beautiful Anhui in all respects, and to vigorously write Anhui's chapter in the Chinese modernization. From October 17 to 18, accompanied by Anhui Provincial Party Secretary Liang Yanshun and Governor Wang Qingxian, Xi Jinping visited Anqing, Hefei, and other places, inspecting historical and cultural blocks and science and technology innovation parks. On the afternoon of the 17th, Xi Jinping first visited Tongcheng City in Anqing. The "Six-Foot Lane," located in the city, was formed by the mutual concession of three feet of land between Zhang Ying, a Grand Secretary in the Qing Dynasty, and his neighbor, the Wu family, serving as a model of harmony and humility among Chinese neighbors. Xi Jinping visited the lane to learn about its history and legacy, inspected relevant cultural relics and materials of the "Tongcheng School," and heard reports on the local efforts to inherit and promote fine traditional Chinese culture and strengthen spiritual civilization construction. He stressed the importance of strengthening historical and cultural protection, adhering to creative transformation and innovative development, and making concerted efforts in developing advanced socialist culture, promoting revolutionary culture, and inheriting fine traditional Chinese culture to lay a solid cultural foundation for social governance. Local residents and tourists gathered around when they saw the General Secretary. Xi Jinping cordially told them that internal conflicts among the people should be resolved through mediation. The Six-Foot Lane embodies the historical wisdom of the ancients in resolving conflicts, and it should serve as an educational site for promoting excellent traditional Chinese culture, playing a good role in promoting the Chinese nation's traditional virtues of humility and valuing harmony, and creating a harmonious social environment where people live and work in peace and contentment. Subsequently, Xi Jinping visited Hefei Binhu Science City to inspect a concentrated exhibition of significant scientific and technological innovation achievements in Anhui Province. He listened to reports on local efforts to promote innovation in scientific and technological systems and mechanisms and accelerate the transformation of scientific and technological achievements, and had cordial exchanges with researchers and enterprise representatives present. He stopped at each high-tech product, including intelligent connected vehicles, new-generation information technology, new energy, artificial intelligence, and life and health, carefully observed them, and frequently expressed his appreciation. Xi Jinping pointed out that to advance Chinese modernization, science and technology must lead the way, and technological innovation is the only path. High technology cannot be begged or demanded; it must be achieved by accelerating high-level scientific and technological self-reliance and self-improvement. Scientific researchers are the backbone of advancing Chinese modernization, and they should exert the spirit of "how many struggles one can have in a lifetime," innovate and create with full freedom, and contribute their wisdom and write brilliant chapters for building a strong scientific and technological nation. On the morning of the 18th, Xi Jinping listened to a work report from the Anhui Provincial Party Committee and Government, affirmed the achievements made in Anhui's various undertakings, and put forward clear requirements for future work. Xi Jinping emphasized the need to accelerate scientific and technological innovation and industrial transformation and upgrading. He called for the high-level construction of national laboratories and the Hefei Comprehensive National Science Center, effective utilization of high-level scientific and technological innovation platforms, strengthening innovation in key common technologies, frontier leading technologies, modern engineering technologies, and disruptive technologies, expanding international scientific and technological exchange and cooperation, and continuously enhancing original innovation capabilities. He stressed the importance of building institutional mechanisms that support comprehensive innovation, coordinating the integrated reform of education, science, technology, and talent systems and mechanisms, improving policies and mechanisms for financial support for scientific and technological innovation, and promoting the deep integration of innovation chains, industrial chains, capital chains, and talent chains. He urged the province to safeguard the foundation of the real economy, accelerate the transformation and upgrading of traditional industries, strengthen strategic emerging industries, proactively plan for future industries, develop new quality productive forces tailored to local conditions, and build internationally competitive advanced manufacturing clusters. He also called for coordinated efforts to reduce carbon emissions, pollution, expand greenery, and promote growth, systematically advance ecological protection and restoration and ecological environment governance, and enhance disaster prevention, reduction, and relief capabilities. Xi Jinping stressed the need to promote deep-level reform and high-level opening up. He encouraged courageous and pioneering, differentiated reforms to build a new high ground for inland reform and opening up. He emphasized adhering to and implementing "two unswervingly," fully stimulating the vitality of various business entities. He called for deepening market-oriented reforms of factors, creating a first-class business environment that is market-oriented, law-based, and internationalized. He urged comprehensive expansion of internal and external opening up, forming a pattern of comprehensive opening up with land-sea linkages and east-west mutual promotion. He highlighted using the in-depth promotion of integrated development in the Yangtze River Delta as a driving force to lead coordinated regional development within the province, playing a greater role in the development of the Yangtze River Economic Belt and the strategy of the rise of the central region. He also encouraged active participation in high-quality Belt and Road cooperation, solid advancement of integrated reforms in domestic and foreign trade, increased efforts to attract and stabilize foreign investment, and accelerated cultivation of new drivers for foreign trade. Xi Jinping pointed out the need to focus on building a new pattern of integrated urban-rural development. He called for establishing a modern grain industry system, production system, and management system, solidly promoting the construction of high-standard farmland, building the Jianghuai granary, and shouldering the responsibility of ensuring grain supply. He emphasized doing a good job in the pilot program of extending rural land contracts for another thirty years after their expiration, improving policies that strengthen agriculture, benefit farmers, and enrich farmers, and mobilizing farmers' enthusiasm for grain cultivation. He urged vigorously developing characteristic and green agricultural product cultivation, promoting the upgrading of rural industries that enrich the people, improving the comprehensive benefits of agriculture, and strengthening new rural collective economies. He also called for continuous improvement of rural living environments and the construction of beautiful villages. He stressed strengthening urbanization with county towns as important carriers and expanding county economies. He highlighted solving employment for key groups, improving regular assistance policies for low-income rural populations, and ensuring that no large-scale return to poverty occurs. He encouraged extending education, medical care, elderly care, social security, and public cultural services to rural areas. He also emphasized strengthening Party building leadership, adhering to and developing the Fengqiao experience in the new era, and improving grassroots governance efficiency. Xi Jinping emphasized the need to further promote the integrated development of culture and tourism, develop all-for-one tourism, and build the cultural tourism industry into a pillar industry. He called for deeply exploring and utilizing the educational function and tourism value of red cultural resources. He stressed strengthening the protection, inheritance, and utilization of traditional villages and traditional buildings, and promoting the creative transformation and innovative development of excellent traditional culture. He highlighted guiding with socialist core values, widely carrying out mass spiritual civilization building, and promoting the change of customs. He also called for deepening cultural system reforms, improving the cultural industry system and market system, and creating more cultural masterpieces. Xi Jinping pointed out the need to unswervingly uphold the Party's leadership and strengthen Party building. He called for promoting the regularization and long-term effectiveness of Party discipline education, guiding Party members and cadres to truly transform disciplinary rules into political consciousness, ideological consciousness, and action consciousness. He urged conscientiously implementing "three distinctions" to fully mobilize the enthusiasm, initiative, and creativity of Party members and cadres in their work, and to focus on solving problems of cadres acting recklessly, being inactive, being afraid to act, and being inept. He stressed improving institutional mechanisms for preventing formalism and bureaucracy, and continuously reducing the burden on grassroots. He also called for sustained efforts to rectify work styles, enforce discipline, and fight corruption, and consolidate and develop a sound political ecology. Xi Jinping emphasized the need to do a good job in economic work in the fourth quarter, conscientiously implement the various policies and measures set by the CPC Central Committee, and strive to achieve the annual economic and social development goals. He Lifeng and responsible comrades from relevant central and state organs accompanied the inspection.

CCTV Commentary: Striving to Pen Anhui's Chapter in Chinese Modernization

Our station today (October 18) broadcast CCTV Quick Commentary "Striving to Write Anhui's Chapter in Chinese Modernization."

Xi Issues Key Directives on Establishing China Resource Recycling Group, Stressing National Platform for Recycling, Boosting Economic Circularity; Li Qiang Makes Endorsement

Xi Jinping, General Secretary of the CPC Central Committee, President of the People's Republic of China, and Chairman of the Central Military Commission, recently issued an important instruction regarding the establishment of China Resource Recycling Group Co., Ltd., emphasizing that the establishment of China Resource Recycling Group Co., Ltd. is an important decision and deployment made by the CPC Central Committee with a view to improving the green, low-carbon, and circular development economic system and comprehensively promoting the construction of a beautiful China. China Resource Recycling Group Co., Ltd. must fully, accurately, and comprehensively implement the new development philosophy, deeply implement the comprehensive conservation strategy, adhere to circular utilization and turning waste into treasure, persist in innovation-driven and open cooperation, strive to smooth the resource recycling chain, build a national and functional resource recycling platform, continuously improve the quality and level of the national economic circulation, and make active contributions to comprehensively advancing the building of a strong country and the great cause of national rejuvenation through Chinese modernization. Li Qiang, Member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, made a written instruction, pointing out that it is necessary to deeply implement the decisions and deployments of the CPC Central Committee and General Secretary Xi Jinping's important instructions, keep in mind the mission and responsibility, focus on national strategy, build a multi-level, three-dimensional, and efficient resource recycling system, implement a new round of large-scale equipment renewal and trade-in of consumer goods, build a world-class resource recycling industrial group, and contribute to ensuring national resource security and promoting high-quality economic and social development. The inauguration ceremony of China Resource Recycling Group Co., Ltd. was held in Tianjin on the morning of the 18th. Zhang Guoqing, Member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, conveyed Xi Jinping's important instruction and Li Qiang's written instruction and delivered a speech at the meeting. He stated that it is necessary to fully implement General Secretary Xi Jinping's important instructions, implement Premier Li Qiang's written instructions, adhere to focusing on the main responsibilities and businesses, firmly grasp the functional positioning, strengthen technological innovation, management innovation, and business model innovation, strive to smooth the resource recycling chain, improve the level of resource recycling, effectively play the leading role of the "national team," and lead the high-quality development of China's resource recycling industry. Chen Min'er, Member of the Political Bureau of the CPC Central Committee and Secretary of the Tianjin Municipal Party Committee, attended the inauguration ceremony. Responsible comrades from relevant central and state organs, Tianjin Municipality, relevant financial institutions and enterprises, and industry associations attended the conference.

Xi to Attend 16th BRICS Summit in Russia

At the invitation of Russian Federation President Vladimir Putin, President Xi Jinping will attend the 16th BRICS Leaders' Meeting in Kazan, Russia, from October 22 to 24.

Li Qiang Chairs State Council Executive Meeting

Premier Li Qiang of the State Council presided over an executive meeting of the State Council on October 18, which discussed and deployed measures to deepen the construction of a national unified market and deliberated on the "Fishery Law of the People's Republic of China (Revised Draft)." The meeting pointed out that promoting the construction of a national unified market is a systemic reform, which essentially aims to create a fairer and more orderly development environment for enterprises. It is necessary to adhere to both symptom and root cause treatment, adopt comprehensive measures, promote unified basic market rules and regulations, fair and unified market supervision, and high-standard connectivity of market facilities, and push reforms deeper and more effectively with stronger measures. The meeting emphasized combining the construction of a national unified market with the implementation of a package of incremental policies, starting from the actual concerns of enterprises, promoting a series of perceptible and achievable reform initiatives, and solving specific problems through deepening reforms. Localities should strive for better development through healthy competition, resolutely break down local protection and market segmentation, clear blockages and bottlenecks hindering economic circulation, and promote the smooth flow of goods, factors, and resources within a larger scope. It is necessary to advance special rectification in areas such as irregular fiscal and tax rebates and subsidies, government procurement of services, and obstruction of fair competition, so that various types of enterprises can grow and expand in fair competition, and promote better development in all regions with higher economic efficiency. The meeting discussed and, in principle, approved the "Fishery Law of the People's Republic of China (Revised Draft)," deciding to submit the draft to the Standing Committee of the National People's Congress for deliberation. The meeting pointed out that it is necessary to strengthen the protection, proliferation, development, and rational utilization of fishery resources in accordance with the law, vigorously develop deep-sea aquaculture, promote improved varieties, advanced technologies, and new facilities and equipment, focus on improving the output, quality, and added value of aquatic products, and promote high-quality development of the fishery industry. The meeting also discussed other matters.

Li Qiang Returns to Beijing After Overseas Visits

On October 17, Premier Li Qiang returned to Beijing by chartered plane after concluding his official visit to Pakistan and attending the 23rd Meeting of the Council of Heads of Government (Prime Ministers) of the Shanghai Cooperation Organization Member States. Upon his departure from Islamabad, Pakistan's Minister for Planning, Development, and Special Initiatives Ahsan Iqbal and Chinese Ambassador to Pakistan Jiang Zaidong saw him off at the airport.

Ding Xuexiang Meets with Brazilian Chief of Staff, UK Foreign Secretary

Ding Xuexiang, Member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, met separately with Rui Costa, Chief of Staff of the Presidency of Brazil, and David Lammy, UK Secretary of State for Foreign, Commonwealth and Development Affairs, in Beijing on October 18. During his meeting with Costa, Ding Xuexiang stated that both China and Brazil are important representative countries of the Global South, good friends with shared aspirations, and good partners who move forward hand in hand. Under the strategic guidance of President Xi Jinping and President Lula, the China-Brazil comprehensive strategic partnership is showing vigorous development, with continuous consolidation of political mutual trust and new progress in exchanges and cooperation in various fields. China is willing to work with Brazil to earnestly implement the important consensus of the two heads of state, take the occasion of the 50th anniversary of diplomatic relations as an opportunity, continuously expand the depth, breadth, and height of mutually beneficial cooperation, and push bilateral relations to a new level. Costa stated that Brazil highly values China and regards China as a trusted long-term partner, and hopes to work with China to further enhance the strategic and comprehensive nature of bilateral relations. During his meeting with Lammy, Ding Xuexiang stated that both China and the UK are permanent members of the UN Security Council and major economies in the world, with deeply intertwined interests. President Xi Jinping recently held a phone call with Prime Minister Starmer, reaching important consensus on enhancing exchanges and cooperation between China and the UK in various fields, which pointed the direction for the development of bilateral relations. China is willing to work with the UK to focus on strategy and long-term perspectives, develop stable and mutually beneficial China-UK relations, promote the upgrading of practical cooperation in various fields, better benefit the two countries and their peoples, and inject greater impetus into world peace and prosperity. Lammy stated that the new UK government is willing to strengthen constructive dialogue with China, engage in candid exchanges, deepen cooperation in various fields, develop consistent and mutually respectful bilateral relations, and jointly address global challenges.

Han Zheng to Attend Indonesian Presidential Inauguration, Visit Indonesia and Brunei

At the invitation of the Indonesian government, Han Zheng, President Xi Jinping's Special Representative and Vice President of China, will attend the inauguration ceremony of President-elect Prabowo on October 20 in Jakarta, and visit Indonesia from October 19 to 21. At the invitation of the Brunei government, Vice President Han Zheng will visit Brunei from October 21 to 23.

National Economy Maintained Stable Growth in First Three Quarters

At the press conference held by the State Council Information Office today (October 18), major macroeconomic indicators released by the National Bureau of Statistics showed that in the first three quarters, the national economy operated generally steadily, and high-quality development made solid progress. Preliminary calculations show that the GDP in the first three quarters was 94,974.6 billion yuan, a year-on-year increase of 4.8% at constant prices. By industry, the value added of the primary industry was 5,773.3 billion yuan, up by 3.4% year on year; that of the secondary industry was 36,136.2 billion yuan, up by 5.4%; and that of the tertiary industry was 53,065.1 billion yuan, up by 4.7%. From the perspective of production, in the first three quarters, agricultural production was in good shape, autumn harvest progressed smoothly, and a bumper grain harvest is expected for the whole year. Industrial production maintained steady growth, with the value added of industrial enterprises above designated size nationwide increasing by 5.8% year on year in the first three quarters, and equipment manufacturing and high-tech manufacturing growing faster. From the perspective of consumption, in the first three quarters, the total retail sales of social consumer goods reached 35,356.4 billion yuan, a year-on-year increase of 3.3%. Among them, sales of upgraded goods improved, with retail sales of communication equipment and sports and entertainment products increasing by 11.9% and 9.7% year on year, respectively. From the perspective of investment, the scale of fixed asset investment continued to expand. In the first three quarters, national fixed asset investment (excluding rural households) was 37,897.8 billion yuan, a year-on-year increase of 3.4%. Investment in high-tech industries grew faster, up by 10.0% year on year. From the perspective of the service industry, in the first three quarters, the value added of the service industry increased by 4.7% year on year, and the service industry continued to recover, with modern service industries such as information transmission, software, and information technology services developing well. With China's increased efforts to introduce a package of incremental policies, market confidence has been greatly enhanced, and market vitality has been stimulated. In September, the value added of industrial enterprises above designated size, total retail sales of social consumer goods, and the national service production index increased by 5.4%, 3.2%, and 5.1% year on year, respectively, accelerating by 0.9, 1.1, and 0.5 percentage points compared with August, indicating an increasing accumulation of positive factors for upward economic momentum.

All Two Monetary Policy Tools Supporting Capital Markets Implemented

Today (October 18), the People's Bank of China announced the official launch of the stock repurchase and increase holdings re-lending policy tool to support the stable operation of the capital market. The first tranche of the re-lending quota is 300 billion yuan, with an interest rate of 1.75% and a term of 1 year, which can be extended as appropriate. At the same time, the securities, fund, and insurance company swap facility has officially started operations. Currently, 20 securities and fund companies have been approved to participate in the facility's operations, with a total application amount exceeding 200 billion yuan. This means that both monetary policy tools to support the capital market have been fully implemented, which will bring hundreds of billions of yuan in incremental funds to the capital market.

Domestic News Briefs

The third round of the third batch of central ecological and environmental protection inspections officially began today (October 18), with month-long inspection teams stationed in four provinces: Jiangsu, Anhui, Sichuan, and Guizhou, as well as four central state-owned enterprises: China National Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec), Sinochem Group, and China National Chemical Engineering Group Corporation (CNCEC). During their stay, each inspection group has set up a contact phone number and postal mailbox to receive letters and calls reporting ecological and environmental protection issues concerning the inspected entities. The 2024 Financial Street Forum Annual Conference Held. The 2024 Financial Street Forum Annual Conference opened today (October 18) in Beijing. This year's forum annual conference, themed "Trust and Confidence - Discussing Financial Openness and Cooperation, Sharing Economic Stability and Development," will host over 500 guests from more than 30 countries and regions, participating in over 40 thematic activities. They will share wisdom and explore pathways on further promoting mutual trust, deepening win-win cooperation, and sharing development opportunities. Data from the first three quarters show 160 million inbound and outbound trips at national ports, a 30.1% year-on-year increase. Reporters learned today (October 18) from the National Immigration Administration's press conference that in the third quarter, national immigration management agencies processed a total of 160 million inbound and outbound trips, a year-on-year increase of 30.1%. Foreigners entering China through various national ports totaled 8.186 million, a year-on-year increase of 48.8%; among them, 4.885 million entered visa-free, a year-on-year increase of 78.6%. 337,800 Village-Level Express Service Stations Built Nationwide. The reporter learned from the State Post Bureau that as of now, a total of 337,800 village-level integrated logistics service stations have been built nationwide, with township express network coverage reaching 98%, basically achieving "county-level distribution and township-level outlets" across the country. The State Post Bureau will jointly launch 100 rural e-commerce express collaborative development demonstration zones and 300 express service modern agriculture demonstration projects with relevant departments within this year. Digital and Intelligent New Products Attract Attention at the 136th Canton Fair. The first phase of the 136th Canton Fair is in its fourth day, with a batch of digital and intelligent new products such as intelligent forklifts and IoT home appliances attracting attention from global buyers. Data shows that the number of new products exhibited at this Canton Fair reached 1.15 million, and digital intelligent products increased threefold compared to the previous session. In addition, in the cross-border e-commerce display area of this Canton Fair, 7 cross-border e-commerce platforms and 34 supporting service providers participated, providing convenient, efficient, and full-chain trade services for exhibitors and buyers. CMG's Premium Programs Russia Exhibition Event Launched. As Chinese President Xi Jinping is about to attend the 16th BRICS Leaders' Meeting in Russia, on October 18 local time, China Media Group (CMG), together with "Rossiyskaya Gazeta," Russia's BRICS TV, and other mainstream media outlets, jointly launched the CMG's premium programs Russia exhibition event in Moscow. "Booming China," "Road to Prosperity," and 9 other CMG premium programs will be broadcast successively on Russian mainstream media. The 8th China Intangible Cultural Heritage Expo Opens in Jinan, Shandong. The 8th China Intangible Cultural Heritage Expo, hosted by the Ministry of Culture and Tourism, recently opened in Jinan. The 211 participating projects in the thematic exhibition comprehensively showcase China's intangible cultural heritage protection achievements over the years. Various cultural activities, including performances, will also be held during the expo, which will last until October 21. The 23rd China Shanghai International Arts Festival Opens. The 23rd China Shanghai International Arts Festival opened last night (October 17). This year's art festival will host nearly a thousand various performance and exhibition activities, attracting nearly 5,000 artists from over 80 countries and regions to Shanghai, showcasing 57 programs with 163 performances, with over 90% being premieres in Shanghai; 20 exhibition projects, with a premiere rate as high as 85%. "High-End Dialogue" Tonight Features Exclusive Interview with Turing Award Winner Leslie Valiant. Tonight (October 18), CMG CCTV News Channel's "High-End Dialogue" program will broadcast an exclusive interview with Turing Award winner Leslie Valiant. Valiant praised China's development in basic science, stating that China's love for academic research is a powerful advantage and will surely achieve greater success in the future. The program will also be simultaneously launched on new media platforms such as CCTV News, CCTV Video, and CCTV.com.

Israel Claims Hamas Leader Sinwar Killed, Hamas Undecided on Response

The Israel Defense Forces (IDF) and the Israel Security Agency (Shin Bet) issued a joint statement on the evening of the 17th, stating that Yahya Sinwar, a leader of the Palestinian Islamic Resistance Movement (Hamas), was killed by the Israeli military in Rafah, southern Gaza Strip, on October 16. Hamas has not yet responded to this. Sinwar, 61, took over as Hamas leader in August this year after Haniyeh was attacked and killed in Iran. On the 17th, the Israeli military also bombed a school in the Jabalia refugee camp in northern Gaza Strip. Early this morning (October 18), the Israeli military again air-raided a refugee camp in western Gaza City, causing multiple casualties. On the 17th, Lebanon's Hezbollah armed group issued a statement saying that the war against Israel would enter a new escalation phase. The Iranian Permanent Mission to the United Nations stated on the same day that as long as the occupation and aggression continue, the resistance will not end.

Russia Claims Control of Strategic Settlement; Ukraine Says Fully Blocking Russian Breakthrough

The Russian Ministry of Defense stated on the 17th that Russian forces continue to advance on multiple fronts, having taken control of the settlement of Maksimilyanovka near the strategically important Kurakhovo in the Donetsk region. The Ukrainian Armed Forces stated that fighting was most intense in the directions of Kurakhovo and Pokrovsk on that day, and the Ukrainian forces took all measures to prevent the Russian breakthrough. At the EU summit held on the 17th, due to serious disagreements, countries did not reach new consensus on the Russia-Ukraine conflict. Hungarian Prime Minister Viktor Orbán, the rotating president of the EU, urged the EU to change its erroneous strategy, reiterating that what is needed now is a ceasefire and peace talks, not war and long-range weapons.

International News Briefs

Iranian Foreign Minister's First Visit to Egypt in Nearly 12 Years. Egyptian President Abdel Fattah El-Sisi met with visiting Iranian Foreign Minister Araghchi on October 17. Araghchi's visit marked the first visit by an Iranian Foreign Minister to Egypt in nearly 12 years. According to a statement issued by the Egyptian Presidency, Sisi emphasized that the international community must work to prevent the Middle East from falling into a full-scale war. According to Iranian media reports, both sides called for strengthening consultations and coordination to end the suffering of the Lebanese and Palestinian people. European Central Bank Lowers Three Key Interest Rates by 25 Basis Points. The European Central Bank announced on October 17 that it would lower its three key interest rates by 25 basis points, effective from October 23. ECB President Christine Lagarde stated at the press conference after the meeting that the decision to cut interest rates was based on the latest assessment of the inflation outlook, underlying inflation dynamics, and the strength of monetary policy transmission. According to recent ECB forecasts, the Eurozone economy is expected to grow by 0.8% in 2024. Lagarde recently stated that the European economic recovery is facing headwinds.

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