No festivities have been announced for the occasion on Tuesday, save for a flag-raising ceremony at Tiananmen Square. In recent decades, China has mounted military parades and displays of the country's economic might only at the turn of decades, such as for the 60th and 70th anniversaries.
The world's second-largest economy has struggled to regain momentum after Covid-19.
A prolonged property slump led to a spillover effect on other parts of the economy, from construction to sales of home appliances. Last week, China announced a slew of measures to boost the economy, including lower interest rates and smaller down payment requirements for mortgages.
This story is from the October 02, 2024 edition of Business Standard.
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This story is from the October 02, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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