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Chinese defence minister’s speech, US Fed cuts rates: SCMP daily highlights

From China’s job market woes to the US Fed cutting interest rates, here’s a round-up from today’s coverage

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Chinese Defence Minister Dong Jun looks on during Beijing Xiangshan Forum on September 18. Photo: Reuters
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Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing.

1. Takeaways from Chinese Defence Minister Dong Jun’s speech at Xiangshan Forum

As China hosts its annual defence conference, the Beijing Xiangshan Forum, Defence Minister Dong Jun outlined the country’s priorities and aims.

2. US Fed cuts rates for first time in 2025 amid pressure from Trump, weaker job outlook

The US Federal Reserve has announced that it will cut interest rates by a quarter of 1 percentage point in a widely anticipated move. The US central bank also expects two more quarter-point cuts this year.

3. China’s job market woes deepen as youth unemployment hits record since 2023

Students attend a jobs fair in China’s eastern Anhui province. China’s youth unemployment rate soared to 18.9 per cent last month as millions of fresh graduates entered the job market. Photo: Getty Images
Students attend a jobs fair in China’s eastern Anhui province. China’s youth unemployment rate soared to 18.9 per cent last month as millions of fresh graduates entered the job market. Photo: Getty Images

China’s urban youth unemployment rate rose last month to the highest level since the data set was adjusted in 2023, as career prospects for young people have weakened amid an economic slowdown.

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