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00:00 China's economy has been going through a lot of difficulties in the past period.
00:06 We have seen economic growth and attempts to revive this economy
00:11 under the guidance of the Chinese government to support the economy and some sectors.
00:17 Let's look at the numbers recorded by the economy at the beginning and end of 2023.
00:23 We are talking about the overall growth of the local economy at 5.2% in the 100.
00:28 The expectations indicated a 5.3% growth, but perhaps this is the last quarter of 2023,
00:39 despite the difficulties that have been in the course of the year to 2023.
00:44 But the future expectations are still pessimistic regarding the economy,
00:49 even by the IMF and financial institutions,
00:53 which indicated that we may see a slower growth than in 2023, at 4.6%
00:59 compared to the expectations of the IMF and perhaps less for some international institutions.
01:04 In contrast, industrial production has seen a 6.8% growth in the 100,
01:09 which is better than the expectations, including distribution sales, which grew 7.4%,
01:14 but less than the expectations at 8%
01:18 We are talking about the sales of consumer goods, which also helped in supporting growth throughout 2023,
01:29 which rose more than 7% compared to these services.
01:34 In contrast, we have also seen the level of Chinese trade, which has seen a decline,
01:41 the weakening of local and even foreign demand, and the continuation of these penalties imposed by the US on China.
01:51 We are talking about the 4.6% Chinese exports at the end of last year,
01:56 which is the first annual decline since 2016.
02:00 We have reached the lowest levels for 7 years in terms of exports.
02:06 In contrast, we have seen a 5.5% decline in exports,
02:11 which is what we were talking about in light of the fear of weakening of local demand that we have seen in the past period.
02:20 Despite this and the support that we have seen from the Chinese government,
02:27 we are talking about investments in China, which has 3% growth,
02:33 which is slightly higher than expected, 2.9%.
02:37 We are talking about the cut in real estate investment,
02:41 which is the third of the total local product of the Chinese economy,
02:47 because it has been affected in the past period,
02:49 and these reforms that the Chinese government is working on to revive this important sector,
02:56 which has more than 9% investment.
02:59 While the investment in infrastructure has grown by 5.9%,
03:03 and also the investment in manufacturing by 6.5%.
03:08 The government is working today to expand local demand and deepen reforms
03:14 in the face of difficulties and challenges that the economy is facing.
03:18 This is what we talked about in terms of allocating about $70 billion to support affected projects.
03:25 Most notably, a large percentage of the real estate sector in China has been allocated.
03:30 There were also some obstacles that the Chinese economy is still facing,
03:35 in terms of the continuation of unemployment rates among the youth,
03:38 which have reached and increased to 14.9%.
03:44 We have seen this increase, which is still worrying the Chinese government,
03:48 as well as the Chinese economy.