SHANGHAI: China’s economy this year has shown signs of stabilizing and growing more strongly, and the momentum may continue in the second half, the central bank governor said on Saturday.
Positive progress has been achieved in economic transformation, said Zhou Xiaochuan in a statement posted on the People’s Bank of China’s website.
Zhou’s comment come ahead of a key Communist Party Congress than opens on October 18, and release of third-quarter economic growth and other data on October 19.
For the second quarter, China reported the economy expanded 6.9 percent from a year earlier.
Zhou said the country’s imports and exports have risen rapidly, its current account surplus has narrowed and fiscal income has kept growing.
China will pursue a proactive fiscal policy and a prudent monetary policy and aim to strengthen areas of weakness, deleverage and monitor and prevent risk in shadow banking and the real estate market, among other things, said Zhou, who spoke at a G20 summit meeting in Washington.
Chinese banks extended more loans than expected in September, according to data published on Saturday, buoyed by demand from home buyers and companies, even as the government tightened the screws to wean the economy off its years-long addiction to cheap debt.
China’s economic momentum may continue in second half
China’s economic momentum may continue in second half
Closing Bell: Saudi main index closes in red at 11,183
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.
The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.
The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.
The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.
The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.
Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.
On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.
Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.
On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.
In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”
Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.
The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.
