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China boasts 1.1 billion internet users: report

China

China

China

China boasts 1.1 billion internet users: report

2025-01-17 17:39 Last Updated At:19:37

The number of internet users in China hit 1.1 billion by December 2024, up 16.08 million from the previous year, according to an industrial report on the country's internet development released on Friday.

The report by the China Internet Network Information Center revealed that internet penetration in China reached 78.6 percent in 2024, 30 years after the country was fully connected to the global internet.

China now boasts the world's largest internet infrastructure, equipped with advanced technologies, driving the rapid growth of its digital economy, according to the report.

As of November 2024, China had established 4.191 million 5G base stations, with a net increase of 815,000 from the previous year.

By December 2024, the number of ".cn" domain names had reached 20.82 million, retaining the top spot in the world for ten consecutive years.

"China has continued to advance the construction of its internet infrastructure, building the world's largest and technologically advanced internet framework, achieving gigabit connectivity in all counties, 5G coverage in all towns and broadband access in all villages, providing sustained momentum digitalization of rural areas," said Liu Yulin, director of the China Internet Network Information Center.

As of December 2024, the internet penetration rate reached 65.6 percent in rural areas, while 52.5 percent of the population aged 60 and above have internet access. The number of online payment users has surpassed 1 billion and the number of online shoppers stands at 974 million.

China's e-commerce sales and mobile payment penetration rate remain the highest globally.

In November 2024, the number of products that offer generative artificial intelligence (AI) services registered in China had reached 309, with over 4,500 AI companies.

China also ranks second globally in total computing power.

China boasts 1.1 billion internet users: report

China boasts 1.1 billion internet users: report

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India's central bank cuts repo rate to 6.25 pct for 1st time in nearly 5 years

2025-02-09 17:03 Last Updated At:17:37

India's central bank, the Reserve Bank of India (RBI), on Friday announced a reduction in repo rate by 25 basis points to 6.25 percent.

The repo rate is the rate at which the central bank lends money to commercial banks in the event of a shortfall of funds.

The move has been undertaken to boost the economy.

RBI Monetary Policy Committee (MPC) last reduced the repo rate in May 2020 and kept it unchanged in the last 11 policy meetings.

After assessing the current and evolving macroeconomic situation, the MPC unanimously decided to reduce the policy repo rate under the liquidity adjustment facility by 25 basis points to 6.25 percent with immediate effect, said a statement issued by the RBI.

Consequently, the standing deposit facility rate shall stand adjusted to 6.00 percent and the marginal standing facility rate and the Bank Rate to 6.50 percent. The MPC also decided to continue with the neutral monetary policy stance and remain unambiguously focused on a durable alignment of inflation with the target, while supporting growth.

According to the RBI, these decisions are in consonance with the objective of achieving the medium-term target for consumer price index inflation of 4 percent within a band of plus and minus 2 percent, while supporting growth.

According to the National Statistical Office (NSO), India's GDP is estimated to grow at 6.4 percent for the financial year 2024-25, compared to the initially-projected 7.2 percent in October last year.

India's central bank cuts repo rate to 6.25 pct for 1st time in nearly 5 years

India's central bank cuts repo rate to 6.25 pct for 1st time in nearly 5 years

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