NCR Atleos chief accounting officer sells $9,240 in stockCambodia’s economy grew 5.6 per cent in 2023 and is projected to rise to 5.8 per cent in 2024, driven by garment, footwear, and tourism exports. In June, the World Bank admired Cambodia’s economic activity, which peaked in the first quarter of 2024, driven by a revival of services and goods exports despite subdued domestic demand. The country’s economic growth has been 5.6 per cent in 2023, which is expected to improve marginally to 5.8 per cent in 2024, strengthen to 6.1 per cent in 2025 and reach 6.4 per cent in 2026. The projections are based on a revival in garment, travel goods, footwear exports, and tourism expected to propel the ongoing recovery. While the international tourist arrivals improved in the first quarter to 84 per cent of pre-pandemic levels, the exports of garments, travel goods, and footwear rebounded with ASEAN (Association of Southeast Asian Nations) region emerging as Cambodia’s second largest export market after the US. Rising foreign investment in manufacturing and agriculture also contributed to the recovery. Inflation also declined to zero in March with deceleration in food prices. Later in October, IMF (International Monetary Fund) projected economic growth in 2024 at 5.5 per cent. However, the growth drivers – strong rebound in garment and tourism as also observed by the World Bank, remained common in both projections. The inflation projection is around 1.5 per cent prior to an expected convergence to the long-term trend of 3 per cent. In the first half, the inflation moderated to an average of 1.6 per cent, y-o-y. IMF recommended structural reforms to diversify growth drivers and improve productivity. January-September trade The international sales (exports) of various articles of apparel and clothing accessories – both knitted and non-knitted, footwear gaiters, leather and fur goods, as well as some processed textiles, reached $966.98 million in the month of January, accounting for 49.16 per cent of Cambodia’s total export value of $1,967 million. This was 21.64 per cent up from January 2023 and attributed to the global recovery towards the end of 2023, a decrease in the stock levels of textile products at overseas companies, and revitalisation of global tourism, which boosted the demand for GFT products in key markets of the US, EU, Japan, Canada and the UK. By February end, Cambodia cumulatively exported more than $1.6 billion worth of textile products to international markets, surging by nearly a quarter compared to the same period in 2023. The increase in exports was also due to an increase in shipments to member countries of the Regional Comprehensive Economic Partnership (RCEP). Between January and May 2024, Cambodia exported $4.969 billion worth of garments, footwear and travel goods (GFT), growing by 20% y-o-y. In this, combined exports of apparel and textiles accounted for $3.628 billion, rising 22 per cent y-o-y. The positive trend marked a turnaround after 18 months of continuous decline. The GFT sector comprises around 1,680 factories and branches, employing nearly 918,000 workers, mostly female. Export of footwear was worth $615 million—up by 10 per cent YoY, while the figure for travel goods was $726 million—up by 18.8 per cent y-o-y. During the five-month period, the country’s total trade volume increased 12.5 per cent over $19.2 billion during the same period last year. Combining all three quarters from January to September, Cambodia exported textile products, encompassing knitted articles of apparel and clothing accessories (HS Code 61), non-knitted articles (Code 62), other textiles (Code 63), and footwear and gaiters (Code 64), worth $8.758 billion which reflected a 24.51 per cent increase over $7.034 billion (2023). This represented 44.16 per cent of the country’s total export revenue of $19.833 billion. Code 61 products generated revenue of $5.034 billion (up 21.5 per cent), Code 62 amounted to $2.353 billion (up 31.9 per cent), Code 63 accounted for $155.69 million (up 37.7 per cent), and Code 64 brought in $1.214 billion (up 22.4 per cent). The growth in exports over 2023 was largely attributed to Cambodia’s political stability within ASEAN, especially in comparison to Bangladesh and Myanmar. The country’s favourable investment laws, the efficiency of its workers and the availability of skilled labour, the quality and quantity of production, improved transportation infrastructure, and a growing number of international buyers were other major growth drivers. The country also attracted many foreign financiers who are currently investing in textile manufacturing. In terms of country (not region), Canada remained the fourth largest market, after the top three of the US, Japan and Spain, for Cambodian apparel exports during the first six months of 2024. Cambodia’s total apparel exports totalled $5.548 billion, and Canada accounted for 8.29 per cent of the total. During the period, Canada was supplied with apparel worth $452.916 million, with trousers and shorts having the largest share of 36.06 per cent and valued at $163.392 million. Among other apparel categories, jerseys, valued at $74.217 million, had a 16.39 per cent share in total apparel exports; T-shirts amounted to $38.560 million, contributing 8.51 per cent; shirts were worth $31.012 million, had a 6.85 per cent share; and coats, valued at $20.969 million, contributed 4.63 per cent share. EU-switch garment project The four-year tenure of the EU-Switch Garment Project, which promoted sustainable energy practices in the Cambodian garment sector, ended in May. The European Union SWITCH-Asia Grants Programme funded the project. It jointly implemented by the Global Green Growth Institute (GGGI), TAFTAC (Textile, Apparel, Footwear & Travel Goods Association), and Geres in partnership with the MoE (Ministry of Environment) and MISTI (Ministry of Industry, Science, Technology & Innovation). The event was attended by over 100 participants and featured the project’s detailed achievements, and networking opportunities to discuss the future of sustainable garment production in Cambodia. The EU-Switch Garment project aimed to improve the environmental sustainability of the country’s garment industries by offering technical assistance in the form of energy audits, capacity building, technical guidelines, and improved financing access. During the tenure, the Model Green Factory Program—a voluntary tool to become a greener factory—was developed, acknowledged by MoE and MISTI, and adopted by TAFTAC for implementation. The project also contributed to bringing sector stakeholders together to enhance better access to finance. The National Steering Committee held its first meeting on June 20, 2024 in Phnom Penh, chaired by the Permanent Secretary of State, MoE. At the meeting, the Committee members listed work streams for 2024-2025 and decided to focus on two priority work streams that are expected to have a significant impact on Cambodia’s green economic transaction efforts: Enhancing the Government’s technical capacity in economic foresight and fiscal policy: This work stream would support policymakers in using data to make informed decisions and in systematically assessing the economic, social, and environmental impacts of fiscal and economic decisions. Additionally, integrated planning, modelling, and sustainable budgeting would help the Cambodian Government optimise resources, attract new financing, and align with development priorities. Promoting a circular economy with a focus on reducing single-use plastics and implementing the 4R principles within the garment industry: This work stream would aim to decarbonise the garment sector by reducing carbon emissions through technological innovation, aligning with the UNFCCC Fashion Charter principles. It focuses on reducing fabric waste, promoting circular fashion, and supporting the government’s target to reduce plastic use and promote the 4R principles as part of the Circular Strategy on Environment 2023-2028. On the occasion, PAGE (Partnership for Action on Green Economy) also presented a summary brief, developed based on the last year’s policy scoping study conducted in collaboration with the Cambodian Development Resource Institute, outlining five priorities that serve as a roadmap for policymakers and stakeholders to identify the obstacles and opportunities for fostering a green economic transition in Cambodia. Workshop on green initiatives A workshop ‘Reporting on Human Rights Due Diligence (HREDD) and Sustainability Requirements for International Buyers’ was organised on September 19, 2024, by GOPA Consulting Group’s team leading the GIZ-funded project “Services to strengthen capacities for sustainable management in the textile sector” in association with TAFTAC. The workshop marked the end of the project. Held in the headquarters of TAFTAC, the workshop lauded the efforts of 45 TAFTAC member factories for the successful completion of the Model Green Factory Program. The training at the workshop had three main objectives – environmental data management, energy efficiency, and job and data management, which are integral to international sustainability standards. Minimum wages revised The National Council on Minimum Wage (NCMW) – a tripartite body comprising equal representation of labour unions, employer’s associations, and the government, increased the minimum wage for the textile, garment, footwear and travel product industries for 2025, through Prakas 211 which will come into force with effect from January 1, 2025. The new minimum wages will be $208 pm (per month) and $206 pm for regular and probationary workers, respectively. Earlier wages were $204 pm and $202 pm. Prakas 211 also outlined the minimum wage provisions for piece rate workers, who are compensated based on their level of output. These workers have the potential to earn more than the minimum wage if their production yields a higher pay rate. However, if their production results in earnings lower than the minimum wage, their pay is adjusted to meet the minimum wage threshold of $208 pm for regular workers or $206 pm for probationary workers. In addition to the minimum wage, workers will also receive the attendance bonus of $10 pm; travel and accommodation expenses of $7 pm; meal allowances of $0.50 per day; and overtime and seniority bonus of $2 to $11 pm for those between their second to the eleventh year of work. Fibre2Fashion News Desk (SB – WE)
Picture palace brought back to original splendour thanks to restoration projectENTRUSTED with our readers’ deep secrets, the Dear Deidre team really have a unique insight into what dilemmas the nation is grappling with. Of course, there are some constants — cheating, differing sex drives, low self-esteem and loneliness. Advertisement 3 Sally Land reveals the nation’s most common dilemmas of 2024 But some issues loom larger in certain years as new problems come to the fore. As 2024 nears an end, we take a look at what exactly our readers have been writing in about. Every year, we help thousands of people by answering every single dilemma with a personalised answer, and we’ve kept a record of the issues we’ve tackled. Relationship issues consistently come out on top, with 23 per cent of the emails Dear Deidre receives focused on romantic problems. Advertisement READ MORE DEAR DEIDRE HERE TO HELP Is Something Playing On Your Mind? Our expert-led Dear Deidre team can help HERE TO HELP Do YOU have a dilemma? Dear Deidre can help - confidentially & for free Sex came a close second, with 19 per cent of readers writing in with a sexual dilemma. Interestingly, half of every single relationship message addressed cheating. Sometimes, the unfaithful party would be writing in, otherwise a suspicious or heartbroken partner worried about their relationship. Among the emails about cheating on partners, home surveillance and doorbell cameras featured more prominently, with some partners forgetting to turn off cameras before inviting flings to come back to their homes. Advertisement Most read in The Sun baby joy Mark Wright and Michelle Keegan announce she's pregnant with first baby NEIL BY MOUTH Moment Rangers hero says he needs RESCUED on live TV during Motherwell clash GER OUT Moment raging Rangers fans BOO their own players and say 'go away' at Motherwell Highlights WELL 2 GERS 2 Shambolic display leaves Clement on brink as horror Christmas week continues A growing number of readers also wrote in because, although they were separated, financial constraints meant they could not move out of the marital home. The reluctant house sharers were frustrated at being unable to move on — a trend that reflects economic uncertainty in the UK. I work on Dear Deidre- my tips on what to do if you've lied to your love. Notable developments this year have been new requests for support with quitting vaping. Another new issue came in the form of pensioners worrying about losing their winter fuel allowance. Advertisement Social media has been a common theme in all the categories. It is impossible to quantify but has had a huge impact. So many of the relationship problems relate to partners ogling scantily clad influencers or flirting with others they have met online. Plenty don’t see this as cheating but the feeling of betrayal is real for those on the receiving end. Advertisement And it’s not just cheating that worries people. Time spent watching endless videos encourages weird infatuations, with one woman complaining her husband had become obsessed with the French election. Opportunity for temptation He insisted they spend their family holiday in France watching speeches — and had previously had no interest in politics. The issue of phone addiction came up, particularly for parents fretting about not only what their children were being exposed to, but also how their mobile activity was affecting their own behaviour. Advertisement They asked our team for help on how to manage this. And a huge number of adults wrote in fed up with their partner, who had little interest in them but spent all hours playing online games or scrolling through their socials. It’s clear that while technology enables us to do far more and do it efficiently, left unchecked it threatens our real-world connections and provides more opportunity for temptation. Next year, I will be recording when social media, phone usage and the internet are mentioned as part of the problem, and I predict this will be a huge growth area. Advertisement Below is a reader’s letter about ogling, followed by one about winter fuel allowance. I also break down what percentages of our mail different types of letter make up. Mortified after ex saw me having sex on security cam (Letter from November 14) 3 My ex saw me having sex with a one-night stand after helping me install a security camera system Credit: getty DEAR DEIDRE: MY ex saw me having sex with a one-night stand using the camera security system he’d installed as a favour to me. Advertisement I was completely unaware that he was watching this, until he turned up the next morning and got very upset with me. Originally, I was grateful for his help setting up the system, but now I feel really uncomfortable. He said he’d received an alert on his phone and checked it by chance, but I can’t help worrying he’s keeping an eye on me. He insists he hasn’t been watching and that was a one-off, but the whole experience has really unsettled me. Advertisement I’m 36, my ex is 39, and we were together for eight years before we broke up five months ago. Our split was both mutually agreed, and amicable, and we decided to remain friends. We still met up and sometimes even had sex, but as we didn’t discuss what this meant I thought we were simply friends with benefits. I really appreciated still having him in my life. Advertisement When I was moving house, he offered to help, knowing how useless I am at DIY. He helped put up shelves, and installed security cameras which he set up online so I could view them through an app. I knew he had access to it all while he set it up but assumed he’d log out. So when I brought a man home, I didn’t think twice. Advertisement Now I feel mortified. He says he didn’t mean to breach my privacy, but I feel so conflicted. DEIDRE SAYS: Watching you have sex with another man was a huge breach of your privacy, and you shouldn’t take it lightly. Advertisement As a priority, please ensure that you are the only one with access to your security system. Make sure you’re the primary account holder and change your password so that he doesn’t have access. It’s completely understandable that this experience has made you question the sort of person he is. Unless you decide you can trust him completely, you would be wise to stay away. Advertisement At the very least, it’s clear that the lines are blurred between you and your ex and some boundaries need to be re-established. As for your relationship with him, you need to decide if there’s any hope of a future together. If you decide there’s not, it would be best to step away so you can both move on. My support pack Moving On will help. Advertisement Left freezing since losing fuel payment (Letter from December 18) 3 I’m forced to choose between putting my heating on or buying food Credit: getty DEAR DEIDRE : SINCE the Government cut my Winter Fuel Payment, I’ve been struggling to afford my bills. Now I’m forced to choose between putting my heating on or buying food, and the stress is making me unwell. I’m a 76-year-old pensioner, and live alone. Advertisement Until this year, I was receiving £200 payments to cover the cost of my heating bills, and I heavily relied on it. So when the Government announced the change, I went into a complete panic. My pension is already low as it is, so without the extra payments I knew it was going to be a hard couple of months. When I contacted the council for help, they told me that, while I was eligible to apply, I had missed the deadline so now I’d have to go without. Advertisement Ever since, my life has been an absolute nightmare. Now I wake up every morning to a freezing house – and no matter what I do, I can’t keep warm. The constant dread is getting me down, and I’m now struggling to cope. DEIDRE SAYS: Advertisement I can only imagine how distressing this must be for you. While the qualifying week for this year’s Fuel Payment has now passed, you may still be eligible if you successfully apply for Pension Credit by December 21. Read more on the Scottish Sun GHOST TOWN Former Scots shopping hotspot 'decaying' as multimillion pound revamp ‘failing’ VAX HORROR Striken Scots 'gaslit' by health bosses after complications from Covid vaccine Please note that you only have two days to do this, so please take action today. You may also be eligible for a £150 Warm Home Discount. You can find out more about this on the government website ( gov.uk/the-warm-home-discount-scheme ). Advertisement Letters that flooded our mailbox TOP TOPICS: Relationships 23% Sex 19% Family 8% Parenting 7% Friendships 4% Workplace issues 5% Mental health 11% Health 5% Addictions 8% Bereavement 5% Sexuality 4% Other 1% SEX WOES Sex drive 43% Fetishes 16% Threesomes 12% Erection problems 11% Fantasies 7% Climaxing 4% Menopause 3% Other 4% LOVE Cheating 49% Domestic abuse 12% Addictive love 10% Broken heart 14% Online romance 6% Age gaps 5% Other 4% ADDICTION Alcohol 42% Porn 22% Drugs 13% Smoking 8% Vaping 5% Gambling 9% Shopping and spending 1%
LAS VEGAS (AP) — Formula 1 on Monday at last said it will expand its grid in 2026 to make room for an American team that is partnered with General Motors. “As the pinnacle of motorsports, F1 demands boundary-pushing innovation and excellence. It’s an honor for General Motors and Cadillac to join the world’s premier racing series, and we’re committed to competing with passion and integrity to elevate the sport for race fans around the world,” GM President Mark Reuss said. “This is a global stage for us to demonstrate GM’s engineering expertise and technology leadership at an entirely new level.” The approval ends years of wrangling that into why Colorado-based Liberty Media, the commercial rights holder of F1, would not initially started by Michael Andretti. Andretti stepped aside from leading his namesake organization, so and be run by new Andretti Global majority owners Dan Towriss and Mark Walter. The team will use Ferrari engines its first two years until GM has a Cadillac engine built for competition in time for the 2028 season. Towriss is the the CEO and president of Group 1001 and entered motorsports via Andretti’s IndyCar team when he signed on financial savings platform Gainbridge as a sponsor. Towriss is now a major part of the motorsports scene with ownership stakes in both Spire Motorsports’ NASCAR team and Wayne Taylor Racing’s sports car team. Walter is the chief executive of financial services firm Guggenheim Partners and the controlling owner of both the World Series champion Los Angeles Dodgers and Premier League club Chelsea. “We’re excited to partner with General Motors in bringing a dynamic presence to Formula 1,” Towriss said. “Together, we’re assembling a world-class team that will embody American innovation and deliver unforgettable moments to race fans around the world.” Mario Andretti, the 1978 F1 world champion, will have an ambassador role with Cadillac F1. But his son, Michael, will have no official position with the organization now that he has scaled back his involvement with Andretti Global. “The Cadillac F1 Team is made up of a strong group of people that have worked tirelessly to build an American works team,” “I’m very proud of the hard work they have put in and congratulate all involved on this momentous next step. I will be cheering for you!” The approval has been in works for weeks but was held until after last weekend’s Las Vegas Grand Prix to not overshadow the showcase event of the Liberty Media portfolio. Max Verstappen won his fourth consecutive championship in Saturday night’s race, the third and final stop in the United States for the top motorsports series in the world. Grid expansion in F1 is both infrequent and often unsuccessful. Four teams were granted entries in 2010 that should have pushed the grid to 13 teams and 26 cars for the first time since 1995. One team never made it to the grid and the other three had vanished by 2017. There is only one American team on the current F1 grid — owned by California businessman Gene Haas — but it is not particularly competitive and does not field American drivers. Andretti’s dream was to field a truly American team with American drivers. The fight to add this team has been going on for three-plus years and F1 initially despite . The existing 10 teams, who have no voice in the matter, also largely opposed expansion because of the dilution in prize money and the billions of dollars they’ve already invested in the series. Andretti in 2020 to buy the existing Sauber team. From there, he applied for grid expansion and partnered with GM, the top-selling manufacturer in the United States. The inclusion of GM was championed by the FIA and president Mohammed Ben Sulayem, who said Michael Andretti’s application was the only one of seven applicants to to expand F1’s current grid. “General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners,” Ben Sulayem said Monday. “I am fully supportive of the efforts made by the FIA, Formula 1, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application.” Despite the FIA’s acceptance of Andretti and General Motors from the start, F1 wasn’t interested in Andretti — but did want GM. At one point, F1 asked GM to find another team to partner with besides Andretti. and F1 said it would revisit the Andretti application if and when Cadillac had an engine ready to compete. “Formula 1 has maintained a dialogue with General Motors, and its partners at TWG Global, regarding the viability of an entry following the commercial assessment and decision made by Formula 1 in January 2024,” F1 said in a statement. “Over the course of this year, they have achieved operational milestones and made clear their commitment to brand the 11th team GM/Cadillac, and that GM will enter as an engine supplier at a later time. Formula 1 is therefore pleased to move forward with this application process.” Yet another major shift in the debate over grid expansion occurred earlier this month with the who was largely believed to be one of the biggest opponents of the Andretti entry. “With Formula 1’s continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport,” Maffei said. “We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1.” ___ AP auto racing:
Normalcy returns in Kashmir after snow-led disruptions; Haryana, Rajasthan continue to shiver
Hazardous Driving to Avoid in 2025JPMorgan Chase & Co. reduced its stake in iShares MSCI Pacific ex Japan ETF ( NYSEARCA:EPP – Free Report ) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,770,424 shares of the company’s stock after selling 609,113 shares during the period. JPMorgan Chase & Co. owned 0.20% of iShares MSCI Pacific ex Japan ETF worth $428,348,000 as of its most recent filing with the Securities and Exchange Commission. Several other institutional investors and hedge funds have also made changes to their positions in EPP. Resolute Advisors LLC grew its holdings in iShares MSCI Pacific ex Japan ETF by 1.6% during the second quarter. Resolute Advisors LLC now owns 20,321 shares of the company’s stock worth $874,000 after acquiring an additional 329 shares during the period. Financial Management Professionals Inc. acquired a new position in shares of iShares MSCI Pacific ex Japan ETF in the 3rd quarter worth approximately $3,790,000. Finally, Rathbones Group PLC raised its holdings in shares of iShares MSCI Pacific ex Japan ETF by 6.3% in the 2nd quarter. Rathbones Group PLC now owns 98,323 shares of the company’s stock worth $4,228,000 after purchasing an additional 5,844 shares in the last quarter. 74.75% of the stock is currently owned by institutional investors. iShares MSCI Pacific ex Japan ETF Stock Performance Shares of NYSEARCA:EPP opened at $44.13 on Friday. iShares MSCI Pacific ex Japan ETF has a 1-year low of $40.22 and a 1-year high of $49.29. The company has a 50 day moving average price of $46.37 and a 200 day moving average price of $45.46. iShares MSCI Pacific ex Japan ETF Profile iShares MSCI Pacific ex Japan ET (the Fund), formerly iShares MSCI Pacific ex-Japan Index Fund, is an exchange-traded fund (ETF). The Fund seeks to provide investment results that correspond generally to the price and yield performance of publicly traded securities in the aggregate in the Australia, Hong Kong, New Zealand and Singapore markets, as measured by the MSCI Pacific ex-Japan Index (the Index). Recommended Stories Want to see what other hedge funds are holding EPP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iShares MSCI Pacific ex Japan ETF ( NYSEARCA:EPP – Free Report ). Receive News & Ratings for iShares MSCI Pacific ex Japan ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iShares MSCI Pacific ex Japan ETF and related companies with MarketBeat.com's FREE daily email newsletter .
pH Sensors Market Size, Latest Growth, Forecast By 2024 - 2032FILIPINOS have embraced the local proverb, "Kapag maiksi ang kumot, matutong mamaluktot" (when the blanket is short, learn to bend) in 2024, navigating rising prices with resourceful purchasing habits. This resilience is highlighted in the latest Sari IQ report by Packworks, a Filipino startup that provides a business-to-business (B2B) open platform to sari-sari stores, providing a snapshot of the state of the grassroots retail sector in the country. Register to read this story and more for free . Signing up for an account helps us improve your browsing experience. OR See our subscription options.
Stock market today: Wall Street rises near records as Treasury yields easeNo fresh funds into Adani firms till clarity on accusations: TotalEnergiesJannik Sinner leads Italy back to the Davis Cup semifinals and a rematch against Australia
The World Bank raised on Thursday its forecast for China’s economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the property sector, would keep weighing it down next year. The world’s second-biggest economy has struggled this year, mainly due to a property crisis and tepid domestic demand. An expected hike in U.S. tariffs on its goods when U.S. President-elect Donald Trump takes office in January may also hit growth. “Addressing challenges in the property sector, strengthening social safety nets, and improving local government finances will be essential to unlocking a sustained recovery,” Mara Warwick, the World Bank’s country director for China, said. “It is important to balance short-term support to growth with long-term structural reforms,” she added in a statement. Thanks to the effect of recent policy easing and near-term export strength, the World Bank sees China’s gross domestic product growth at 4.9% this year, up from its June forecast of 4.8%. Beijing set a growth target of “around 5%” this year, a goal it says it is confident of achieving. Although growth for 2025 is also expected to fall to 4.5%, that is still higher than the World Bank’s earlier forecast of 4.1%. Slower household income growth and the negative wealth effect from lower home prices are expected to weigh on consumption into 2025, the Bank added. To revive growth, Chinese authorities have agreed to issue a record 3 trillion yuan ($411 billion) in special treasury bonds next year, Reuters reported this week. The figures will not be officially unveiled until the annual meeting of China’s parliament, the National People’s Congress, in March 2025, and could still change before then. While the housing regulator will continue efforts to stem further declines in China’s real estate market next year, the World Bank said a turnaround in the sector was not anticipated until late 2025. China’s middle class has expanded significantly since the 2010s, encompassing 32% of the population in 2021, but World Bank estimates suggest about 55% remain “economically insecure”, underscoring the need to generate opportunities. Source: Reuters