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EMERGING MARKETS: Global News: January 17

EMERGING MARKETS
  • CHINA (MNI) – The Chinese economy grew by 5.4% y/y in Q4, up from 4.6% previously, driving 2024's growth to the government's 5% annual target. This was above market expectations of 5.0% and 4.9%, data released from the NBS showed on Friday. Retail sales rose 3.7% y/y in December, up from 3.0% previously and outpacing the 3.5% forecast. Industrial production increased 6.2% y/y in December, hitting an eight-month high.
  • US / CHINA (BBG) – Chinese President Xi Jinping will skip US President-elect Donald Trump’s inauguration on Monday but will send Vice President Han Zheng instead, the country’s Foreign Ministry said. An announcement Friday from an unnamed ministry spokesperson said China wanted a “stable, healthy and sustainable relationship” with the US and was ready to work with the new American government to “find the right way for the two countries to get along with each other.”
  • ISRAEL (MNI) – The Security Cabinet is meeting to sign off on the Gaza ceasefire-for-hostages deal after PM Benjamin Netanyahu confirmed that his negotiating team in Doha had approved a final agreement. After the Security Cabinet approves the deal it will then move to the full Cabinet on the evening of 18 Jan.
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  • CHINA (MNI) – The Chinese economy grew by 5.4% y/y in Q4, up from 4.6% previously, driving 2024's growth to the government's 5% annual target. This was above market expectations of 5.0% and 4.9%, data released from the NBS showed on Friday. Retail sales rose 3.7% y/y in December, up from 3.0% previously and outpacing the 3.5% forecast. Industrial production increased 6.2% y/y in December, hitting an eight-month high.
  • US / CHINA (BBG) – Chinese President Xi Jinping will skip US President-elect Donald Trump’s inauguration on Monday but will send Vice President Han Zheng instead, the country’s Foreign Ministry said. An announcement Friday from an unnamed ministry spokesperson said China wanted a “stable, healthy and sustainable relationship” with the US and was ready to work with the new American government to “find the right way for the two countries to get along with each other.”
  • ISRAEL (MNI) – The Security Cabinet is meeting to sign off on the Gaza ceasefire-for-hostages deal after PM Benjamin Netanyahu confirmed that his negotiating team in Doha had approved a final agreement. After the Security Cabinet approves the deal it will then move to the full Cabinet on the evening of 18 Jan.