China Plans to Boost Spending and Stimulate Economy: The Chinese government has announced new measures
to stimulate consumption and revive the economy by boosting citizens’ income and stabilizing financial and real estate markets,
according to a statement from the State Council reported by Xinhua on Sunday.

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National Australia Bank

China Plans to Boost Consumption by Increasing Income and Stimulating the Economy

According to a statement from the State Council reported by Xinhua on Sunday,
the Chinese government has unveiled new policies to stimulate consumption and revive the economy
by increasing citizens’ income and ensuring financial and real estate market stability.
The plan includes supporting reasonable wage growth and creating a new mechanism to adjust the minimum wage,
in addition to studying a system to support childcare
in an effort to boost birth rates amid concerns of an economic slowdown.
Chinese markets also saw a sharp rise on Friday, marking their biggest gains in two months.
This followed the State Council’s announcement of a press conference involving officials from the Ministry of Finance,
the central bank, and other government bodies to discuss further measures to stimulate consumption and the economy.

CFO of National Australia Bank Resigns Amid Leadership Reshuffle

On Monday, the National Australia Bank (NAB) announced Nathan Goonan’s
resignation from his role as Group Chief Financial Officer as part of a series of senior-level executive changes.
Goonan assumed the role in July 2023 after spending nearly 15 years
at the bank as the group executive general manager of strategy and development.
The bank stated that Shaun Dooley, Group Chief Risk Officer,
will serve as interim CFO until a permanent replacement is appointed.
Additionally, the bank announced the departure of Rachel Slade, Group Executive for Personal Banking,
effective July 1. Canadian banker Andrew Orbach, a business and wealth management specialist, will succeed her.

China Plans to Boost Spending and Stimulate Economy

China Plans to Boost Spending and Stimulate Economy

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