The closing ceremony of a study session for provincial and ministerial leaders was held in Beijing on Friday, when the high-ranking officials were urged to make all-out efforts to advance this year's economic and social development work and kick off the 15th Five-Year Plan period (2026-2030) with a sound start.
Cai Qi, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and a member of the CPC Central Committee Secretariat, made the requirement while addressing the closing ceremony.
The study session was held this week for the officials to study and implement the guiding principles of the fourth plenary session of the 20th CPC Central Committee.
Stressing the importance of a speech delivered by Xi Jinping, general secretary of the CPC Central Committee, at the opening ceremony of the study session, Cai urged the officials to maintain strategic resolve, strengthen confidence in victory, actively take responsibility, and strive to turn the grand blueprint into reality. During the study session, the officials had in-depth discussions and combined theory with practice, further deepening their understanding of the guiding principles of the fourth plenary session of the 20th CPC Central Committee. Cai urged the officials to make good use of the outcomes of the study session and turn what they have learned into concrete results in their work.
Study session for provincial officials concludes
Soaring oil prices triggered by escalating tensions in the Middle East have heightened U.S. inflation pressures, with analysts warning that households face hundreds of dollars in extra costs if crude climbs further.
Data released on Tuesday by the American Automobile Association (AAA) showed that the national average price of regular gasoline in the United States has risen 18.64 percent compared with Feb. 26. The AAA data also indicated that the national average price of diesel on Tuesday was up 22.85 percent from a week earlier.
Mark Zandi, chief economist at global ratings agency Moody's, warned that U.S. consumers are being threatened by a sharp rise in fuel prices. He said that if international oil prices climb by another 10 U.S. dollars per barrel, annual spending for an average U.S. household would increase by about 450 dollars.
Zandi noted that a surge in oil prices would intensify inflationary pressure in the United States, eroding consumers' purchasing power and weighing on consumption, economic growth, and employment.
Tensions sharply escalated across the Middle East on Feb 28 when the United States and Israel launched large-scale joint airstrikes on Iran. The Iranian side has responded with multiple waves of missile and drone attacks targeting Israel and U.S. assets across the region, hitting many countries in the Gulf.
Escalating Middle East tensions drive up energy prices, squeezing US consumers
Escalating Middle East tensions drive up energy prices, squeezing US consumers
