Chinese premier urges all-out efforts in flood control, rescue work, disaster relief

Chinese Premier Li Qiang on Thursday urged all-out efforts in flood control, disaster relief and rescue work to ensure the safety of people's lives and property.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks when visiting Chenzhou City, central China's Hunan Province.

Multiple rounds of rain battered Hunan recently, causing severe flooding and geological disasters in some areas.

In Zixing City of Chenzhou, Li inspected several villages to learn about the disaster situation including damage caused to farmland and houses, and to review the progress of relief and rescue efforts.

He emphasized the need to spare no effort in searching for the missing people and to ensure full coverage in the search and rescue operations.

Li also demanded a swift repair and restoration of roads, electricity and telecommunications facilities, and other essential infrastructure.

When visiting the rescue and relief personnel at the frontline, Li expressed his gratitude, calling on them to make continuous efforts in handling emergencies.

In Zhoumensi Town, Li visited flood-affected people at a resettlement site, inquiring in detail about their living conditions.

He encouraged the relocated residents to stay confident and make united effort to overcome difficulties and rebuild their homes.

Li also presided over a meeting on flood control and disaster relief, emphasizing the importance of putting people's lives and safety above all else, enhancing coordination between disaster monitoring and early warning with emergency responses, and promptly evacuating people from high-risk areas.

He emphasized timely allocation of disaster relief funds and delivery of relief supplies to aid in post-disaster reconstruction.

The premier also called for accelerating the construction of a series of major projects for natural disaster control and prevention.

Chinese premier urges all-out efforts in flood control, rescue work, disaster relief

Chinese premier urges all-out efforts in flood control, rescue work, disaster relief

The European Central Bank (ECB) announced on Thursday that it would slash key interest rates by 25 basis points in a bid to wind down the restrictive monetary policy.

Effective from March 12, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 2.50 percent, 2.65 percent and 2.90 percent respectively, said the central bank in a statement.

The disinflation process is well on track, with headline inflation averaging 2.3 percent in 2025, 1.9 percent in 2026 and 2.0 percent in 2027, the ECB said.

The decision to keep on cutting rates came at a time when the economy in the eurozone is facing increasing uncertainties.

In its latest edition of the staff projections on Thursday, the ECB lowered its forecast for economic growth in the eurozone to 0.9 percent for 2025, 1.2 percent for 2026 and 1.3 percent for 2027.

This marks a downward revision from the ECB's forecast in December last year, which had projected 1.1 percent growth in 2025 and 1.4 percent in 2026, while the 2027 outlook remains unchanged.

The ECB attributed the weaker growth outlook for 2025 and 2026 to declining exports and sluggish investment, citing high trade policy uncertainty and broader economic instability as key factors.

ECB cuts interest rates by 25 basis points