Two gatherings in Beijing on Wednesday set the scene for China’s response to ongoing global economic disruptions. A meeting of the CPC’s Politburo pledged to maintain current macroeconomic policy, to “stabilize the fundamentals of foreign trade and investment,” and to support companies impacted by economic shocks. Chinese President Xi Jinping also led a gathering of non-Party officials, where the need to bolster domestic consumption and avoid price wars was prominent. It was announced that the CPC will gather for its fourth plenum in October to set new five-year plans. (SOUTH CHINA MORNING POST)
China’s Defense Ministry announced on Wednesday that it will embark on annual joint military exercises with Russia next month. Defense Ministry spokesperson Zhang Xiaogang said the Joint Sea 2025 aerial and naval drills will take place near the Russian port of Vladivostok, across the sea from Japan. The announcement comes a week after China’s relationship with Russia proved a sticking point in negotiations with the EU. Meanwhile, Russian oil sales to China for delivery in September are continuing briskly despite threats of additional tariffs. (AP)
