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This reflects the continued recovery of the Asia and Pacific (APAC) region from the impacts of the COVID-19 pandemic In 2019, Chinese tourists spent $248 billion abroad, accounting for 14 percent of global tourism spending The solar plant will generate about 6.09 billion kilowatt hours of electricity each year This is primarily driven by the near price parity between battery-electric vehicles (BEVs) and internal combustion engine (ICE) vehicles in the country China's economy saw robust 5.3 percent growth in Q1 driven by strong exports Shipments of foreign-branded phones in China increased by 52 percent in April 2024 to 3.495 million units Data from the National Bureau of Statistics reported that this growth rate was the same as that registered in the first quarter The magnitude of clean energy projects currently under construction in China surged to 512.05 GW during the quarter This represents an 18.7 percent increase compared to the same period last year Chinese reserve buying remains a significant tailwind, driving demand and supporting gold prices China accounted for three-quarters of the total investments in this field, according to the report For April alone, fiscal revenue fell 3.7 percent against a 2.4 percent decline in March The dollar index rose 0.1 percent, making greenback-priced bullion less attractive to holders of other currencies The dollar index maintained its downward trend, declining 0.03 percent on Monday Agreements to develop and raise the quality of residential projects across the Kingdom China shipped nearly 20 million tons of LNG already in the first quarter of 2023 U.S. employment data supported gold prices, which rose over 2 percent by the end of last week China's central bank marked its 18th consecutive month of gold purchases in April Currently, markets are pricing a 67 percent chance of a U.S. interest rate cut in September Gold could capitalize on potential downturns in U.S. macroeconomic data in the coming quarters 3.03 million new urban employment opportunities reflect China's improving economic landscape 79 water-related climate disasters impacted Asia last year The IEA expects China to account for 10 million electric vehicle sales this year The country kept one-year LPR at 3.45 percent, five-year LPR at 3.95 percent
