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The cautious mood was further emphasized by the absence of trading in the United States due to a national holiday. However, Japan's Nikkei bucked the trend, extending its rally to reach a fresh 34-year high.
Throughout the year, China grappled with various challenges, including mounting local government debt, a struggling housing market, and subdued demand domestically and internationally
Xi Jinping praised an ambitious project, the BRI, initiated a decade ago, which involves the construction of global infrastructure and energy networks connecting Asia, Africa, and Europe via both land and sea routes. He described it as a successful transformation of plans into tangible projects.
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