Stock markets in the United States and Europe tumbled on Monday over fears of a U.S. economic recession and mounting global tensions.
The three major U.S. stock indices opened sharply lower, with the technology-heavy Nasdaq Composite Index shedding more than 6 percent, the Dow Jones Industrial average falling more than 3 percent and the Standard and Poor's 500 Composite slumping 3.3 percent.
At the close of trading, the Nasdaq Composite dropped 3.43 percent, while the Dow Jones Industrial Average fell 2.60 percent, and the Standard and Poor's 500 index was down 3 percent.
It came after recent U.S. economic indicators missed expectations, with the non-farm sector adding jobs at a slower rate in July than anticipated, unemployment rate for the month nudging upwards, and new orders for manufactured goods in June falling by 3.3 percent, following a month-on-month decline of 0.5 percent in May, according to data from the Department of Commerce.
In Europe, the three major stock indices opened down on Monday with Britain's FTSE 100 Index falling 2.85 percent, the Paris CAC 40 by 2.76 percent, and Germany's DAX Index by 3.43 percent.
Elsewhere in Türkiye, trading on the Istanbul stock market was suspended twice the same day after significant losses triggered a market-wide circuit breaker. It came as concerns about a potential U.S. recession shook global financial markets and investor sentiment soured on the rising tensions in the Middle East.
Major stocks in US, Europe tumble
Major stocks in US, Europe tumble
Major stocks in US, Europe tumble
Since the founding of the People's Republic of China (PRC) 75 years ago, the education level of the entire society and the health-care system have significantly improved, according to a report released by the National Bureau of Statistics (NBS) on Monday.
In the early years of the PRC, more than 80 percent of the population was illiterate.
In 2023, the gross enrollment rate of preschool education, the consolidation rate of the nine-year compulsory education, and the gross enrollment rate of senior high school arrived at 91.1 percent, 95.7 percent, and 91.8 percent, respectively. The number of students in compulsory education and senior high school was 160 million and 45.42 million, respectively, 6.4 times and 103 times those of 1949.
China's gross enrollment rate of higher education exceeded 60 percent, ranking first in the world. The average years of schooling of the working-age population increased from just over eight years in 1982 to 11.05 years. The numbers of China's human resources and scientific and technological human resources ranked first in the world.
In the last year, there were a total of 2,345 special education schools nationwide, marking an increase of 31 schools from 2022. And 1.62 billion students have received financial assistance with the amount totaling around 2.6 trillion yuan (about 365 billion U.S. dollars).
China's cultural industry has flourished. By the end of 2023, China had 3,246 public libraries and 6,833 museums, 59 times and 325 times the numbers in 1949. The total import and export volume of cultural products increased from 88.8 billion U.S. dollars in 2012 to 162.2 billion U.S. dollars in 2023. China's cultural soft power keep enhancing.
China's medical and health services have made continuous progress. By the end of 2023, China had 1.07 million medical and health institutions, along with 10.17 million beds and 12.49 million health workers. In 2020, the life expectancy of the population reached 77.93 years, 43 years higher than that in 1949, which is higher than the average level of middle-and high-income countries.
China's education level, healthcare system continue to improve
