Head of the International Monetary Fund: China is at a crossroads. Georgieva called on China to rely on domestic consumption to develop the economy.
In China, the China Petroleum and Petrochemical Company (Sinopec) announced - today, Sunday - a 9.9% decline in net profits in 2023, affected by the decline in oil and gas prices despite receiving support from the recovery in fuel demand. Sinopec said in a statement to Reuters that the company faced a "complex operating environment and intense competition" last year.