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China’s premier has publicly acknowledged the financial harm wrought by the COVID-19 pandemic and expressed his belief the relaxation of strict lockdown rules will help the economy “pick up”. 

Li Keqiang is the country’s second most powerful person and the most senior figure to speak about the recent “adjusting and optimising” of coronavirus restrictions which will see a large scale reduction in mass testing and some positive cases allowed to quarantine at home.

He also added China will take further measures to ensure vital sectors such as “production and logistics” are kept open.

He was speaking at a news conference following a face-to-face meeting with the leaders of six major international economic organisations including the International Monetary Fund (IMF), the World Bank and the World Trade Organisation (WTO).

His words will add further encouragement to both markets and people, buoyed by the strongest indications yet the zero COVID agenda is being abandoned.

Premier Li met with the six economic chiefs in the southern city of Huangshan.

It is the first time such talks have been possible since the pandemic.

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The stated purpose was to strengthen multinational cooperation in order to confront the range of severe economic challenges facing the world.

China, the world’s second largest economy with vast global trade links, is seen as a vital player.

In this image taken from video footage run by China's CCTV, Chinese Premier Li Keqiang and IMF Managing Director Kristalina Georgieva shake hands before a meeting in Huangshan in eastern China's Anhui province on Thursday, Dec. 8, 2022. With the implementation of adjusted anti-COVID measures, China's economic growth will enjoy sustainable rebound, Chinese Premier Li Keqiang told visiting heads of international organizations, state broadcaster CCTV reported. (CCTV via AP)
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IMF chief Kristalina Georgieva was among those to meet with Li Keqiang in China. Pic: AP

Premier Li stated China was committed to opening its economy to the world, countering concerns and accusations the country has become more closed and hostile to foreign investment in recent years.

He said the country was taking “accelerated steps to build an open economy”, and added: “China’s development and world development are closely connected, China needs the world and visa versa.”

He also said China “stands ready to act” when it comes to aid for poorer nations facing debt crises.

Read more:
China’s zero COVID stance is on the way out – it’s hard to see how they can go back now

While he trumpeted Beijing’s achievements in mitigating the worst impacts of the pandemic, he acknowledged that “this year China’s economy has traversed an extraordinary journey,” and noted the “implications to our efforts to maintain set targets and goals”.

The heads of the international organisations which included IMF managing director Kristalina Georgieva, director general of the WTO Ngozi Okonjo-Iweala and the president of the World Bank David Malpass, all expressed optimism for the “constructive” nature of the talks.

China is the world's second largest economy with vast global trade links
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China is the world’s second largest economy with vast global trade links

But they also acknowledged the massive headwinds facing the global economy and the “very real” risk of a worldwide recession.

“China’s performance matters to China but it also matters to the world economy as well” said Ms Georgieva.

“Multilateral cooperation is essential first, on trade, and addressing the risks of fragmentation that are coming at the time we need each other the most.”

Mr Malpass specifically highlighted the recent relaxations to testing and quarantine requirement stating that a “reopening that reduces domestic and international disruptions was critical”.

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Israel-Hezbollah ceasefire begins amid cautious hope in the Middle East

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Israel-Hezbollah ceasefire begins amid cautious hope in the Middle East

A ceasefire between Israel and Hezbollah has begun.

Commencing at 2am UK time (4am local time) on Wednesday, the deal marks a notable step forward in diplomatic efforts in the region.

Previously such talks had floundered and failed to produce results – until this week.

Read more:
Analysis: Dark clouds hang over Middle East
Explained: Israel-Hezbollah ceasefire

The deal, brokered by the US and France, was announced by President Joe Biden and will see an initial 60-day halt to the fighting that has claimed thousands of Lebanese lives and displaced over a million people.

It will also allow tens of thousands of people both sides of the border to return home.

Israel will gradually withdraw its forces from Lebanon as the Iranian-backed militant group Hezbollah leaves its positions in the region, and retreats north of the Litani River – which runs around 30km (20miles) north of the border.

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The Lebanese army will take control of the territory to ensure Hezbollah doesn’t rebuild infrastructure there, with the country’s foreign minister Abdallah Bou Habib saying it could deploy at least 5,000 troops.

“This is designed to be a permanent cessation of hostilities,” Mr Biden said.

“Civilians on both sides will soon be able to safely return to their communities,” he added.

There appeared to be lingering disagreement over whether Israel would have the right to attack Hezbollah if it believed the militants had broken the agreement.

Prime Minister Benjamin Netanyahu said it was part of the deal but Lebanese and Hezbollah officials reportedly claimed otherwise.

“If Hezbollah breaks the agreement and tries to rearm, we will attack. For every violation, we will attack with might,” Mr Netanyahu said.

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Biden announcing ceasefire

Mr Biden said Israel had the right to quickly resume operations if Hezbollah did break the truce.

Within Israel, there was not total support for the ceasefire, with a poll conducted by Israel’s Channel 12 TV finding that 37% of Israelis were in favour of the ceasefire, and 32% against.

In Lebanon, people cheered on the streets as it was confirmed.

Israel bombards Lebanon right until ceasefire deadline

With less than half an hour to go until the ceasefire, Israel was still launching strikes on Beirut.

In the days and hours before, it had unleashed a wave of attacks across Lebanon, killing at least 42 people according to Associated Press.

Explosions lit up Lebanon’s skies in the day before the ceasefire with both Beirut and the port city of Tyre targeted by Israel as its cabinet discussed, and eventually voted for, the peace offer.

Smoke rises over Dahiyeh, Beirut, after an Israeli strike on Tuesday.
Pic: AP/Bilal Hussein
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Smoke rises over Dahiyeh, Beirut, after an Israeli strike on Tuesday.
Pic: AP/Bilal Hussein

Rescuers search for victims at the site of an Israeli airstrike that targeted a building in Beirut, Lebanon, Tuesday, Nov. 26, 2024. (AP Photo/Hassan Ammar)
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Rescuers search for victims in the aftermath of an Israeli airstrike in Beirut.
Pic: AP/Hassan Ammar

Israel also later launched strikes at the north Lebanon crossing with Syria for the first time, according to Lebanon’s transport minister Ali Hamieh.

The most recent deaths mean at least 3,760 people have been killed in Lebanon in the 13 months of fighting between Israel and Hezbollah, which includes the two months since the ground invasion.

What satellite images tell us about North Gaza as report accuses Israel of ‘ethnic cleansing’

Israel says it has killed more than 2,000 Hezbollah members. Lebanon’s Health Ministry says the war has displaced 1.2 million people.

In Israel, Hezbollah rockets have struck as far south as Tel Aviv and at least 75 people have been killed, more than half of them civilians.

But while the ceasefire will end hostilities in Lebanon, worries over the situation in Gaza continued.

Charities have repeated warnings of a humanitarian crisis in parts of the enclave and the United Nations Agency for Palestine Refugees (UNRWA) said that the coming winter would lead to more deaths as well.

Meanwhile, Hamas is still holding dozens of hostages who have spent more than a year captive.

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Dark clouds hang over Middle East despite optimism surrounding Israel-Hezbollah ceasefire

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Dark clouds hang over Middle East despite optimism surrounding Israel-Hezbollah ceasefire

A ceasefire between Israel and Hezbollah has been agreed, to celebrations in Lebanon but scepticism in Israel.

Lebanese people are finally looking forward to some calm after months of heavy bombardment in the capital Beirut and across the country.

An estimated 1.2 million people have been displaced and many towns and villages heavily damaged.

Middle East latest: Israel and Lebanon agree ceasefire

But a snap poll for one Israeli news channel found only 37% of Israelis in favour of the deal.

Not everyone in the Israeli cabinet was supportive of the deal, either.

Itamar Ben-Gvir describes it as “a historic mistake” but didn’t threaten to withdraw his party from government. He was the one person who voted against the truce.

More on Hezbollah

So what have those critics extracted from Prime Minister Benjamin Netanyahu in return for their support?

Some have recently been pushing for Israeli occupation of Gaza or annexation of the West Bank.

The concern in Israel largely centres on enforcement and doubts that Hezbollah will stay true to the terms of the deal.

Netanyahu says Israel will strike Hezbollah the moment they show any attempt to rearm or regroup in southern Lebanon, but his willingness to do this deal suggests he is ready to move on from this particular war.

So with little public support, especially among many of his own base, why now?

Well, Netanyahu was honest in his televised statement when he said that the IDF needed to regroup and rearm – fighting on multiple fronts for more than a year has taken its toll especially among the thousands of reserve soldiers they rely on.

Israeli PM to propose ceasefire deal to cabinet
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Netanyahu speaking on the day the ceasefire was announced

He is also under pressure from the incoming president-elect Donald Trump to wrap up the wars and agreeing this ceasefire was more straightforward than negotiations with Hamas in Gaza.

President Biden spoke of renewed efforts to get a ceasefire in Gaza, and there is hope Hamas will now feel isolated and forced to do a deal.

But the situation in Gaza is far more complex, with the lives of hostages at stake, Hamas’s leaders remain determined to fight and Israel’s plans for the Strip unknown.

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Israeli warplanes fly over Dahiyeh, in Beirut, Lebanon, Tuesday, Nov. 26, 2024. (AP Photo/Bilal Hussein)
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Israeli warplanes fly over Beirut on the day the ceasefire was announced. Pic: AP/Bilal Hussein.

A ceasefire between Israel and Hezbollah is a significant moment, it should and will be welcomed around the world, and it might be enough to calm Iran and the Iraqi militias.

As long as the hostages remain in Gaza however, and the humanitarian crisis there worsens with the onset of winter rains and lack of aid, the dark clouds will continue to hang over the Middle East.

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What does the truce between Israel and Hezbollah involve and what happens if it’s broken?

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What does the truce between Israel and Hezbollah involve and what happens if it's broken?

Israel and Lebanese militant group Hezbollah have agreed a ceasefire deal that will end more than a year of fighting.

The deal was announced by US President Joe Biden, who said it is “designed to be a permanent cessation of hostilities”.

Sky News takes a look at what the US-proposed deal involves, what happens if it’s broken and what will come next.

Middle East latest: Biden insists ceasefire deal will be ‘permanent’

When will the fighting stop?

Fighting between Israel and Hezbollah will end at 4am local time (2am GMT) on Wednesday, Mr Biden said.

It will bring an end to nearly 14 months of fighting which has seen more than 3,500 Lebanese killed and more than 15,000 injured.

Israeli strikes into Lebanon have forced 1.2 million people to leave their homes, while Hezbollah attacks have driven some 50,000 Israelis to evacuate the country’s north.

Hezbollah rockets fired into Israel have killed at least 75 people, more than half of them civilians, and more than 50 Israeli soldiers have died in the ground offensive in Lebanon.

The Iran-backed group began firing into northern Israel a day after Hamas militants rampaged across the border from Gaza into Israel in October last year, sparking the war in Gaza.

Smoke billows over Beirut's southern suburbs, after an Israeli strike, amid the ongoing hostilities between Hezbollah and Israeli forces, as seen from Baabda, Lebanon, November 26, 2024. REUTERS/Mohamed Azakir
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Israeli jets have been striking targets across Lebanon. Pic: Reuters

What does the deal involve?

The agreement reportedly calls for an initial 60-day halt in fighting between Israel and Hezbollah.

Hezbollah forces would leave their positions in southern Lebanon and retreat north of the Litani River, which runs around 30km (20 miles) north of the border with Israel.

A map of Lebanon showing the Litani and Awali rivers.

Israel will withdraw its forces from Lebanon over a period of 60 days, Mr Biden said, as the Lebanese army takes control of its territory near the border to ensure Hezbollah does not rebuild its infrastructure there.

The move would allow civilians on both sides to “safely return to their communities,” he added.

Lebanon’s foreign minister Abdallah Bou Habib said the Lebanese army was prepared to deploy at least 5,000 troops in southern Lebanon as Israeli soldiers withdraw.

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Biden says ceasefire reached

What if the agreement is broken?

Israeli Prime Minister Benjamin Netanyahu said his country would respond forcefully to any ceasefire violation by Hezbollah, saying Israel would retain “complete military freedom of action”.

“If Hezbollah breaks the agreement and tries to rearm, we will attack,” he said. “For every violation, we will attack with might.”

Mr Biden also said Israel reserved the right to retaliate if Hezbollah breaks the terms of the ceasefire, adding: “What is left of Hezbollah and other terrorist organisations will not be allowed to threaten security again.”

Smoke billows over Beirut's southern suburbs, after an Israeli strike, amid the ongoing hostilities between Hezbollah and Israeli forces, as seen from Baabda, Lebanon, November 26, 2024. REUTERS/Mohamed Azakir
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Smoke rises from Beirut’s southern suburbs after an Israeli airstrike. Pic: Reuters

Rescuers search for victims at the site of an Israeli airstrike that targeted a building in Beirut, Lebanon, Tuesday, Nov. 26, 2024. (AP Photo/Hassan Ammar)
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Rescuers search for victims at the site of an Israeli strike in Beirut. Pic: AP

Who will monitor the ceasefire?

The ceasefire agreement will be monitored by an international panel led by the US, along with thousands of Lebanese troops and UN peacekeepers deployed around Lebanon’s border with Israel.

Israel’s defence minister Israel Katz has insisted Israel’s military would strike Hezbollah if the UN peacekeeping force UNIFIL did not provide “effective enforcement” of the deal.

A Lebanese army soldier stands near UN peacekeepers (UNIFIL) vehicles in Marjayoun, near the border with Israel, amid ongoing hostilities between Hezbollah and Israeli forces, southern Lebanon October 29, 2024. REUTERS/Karamallah Daher TPX IMAGES OF THE DAY
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A Lebanese army soldier stands near UN peacekeepers (UNIFIL) vehicles in Marjayoun, near the border with Israel. Pic: Reuters

The US will work with the Lebanese army to deter potential violations, but no US combat troops will be stationed in the area, a senior US official said.

In a joint statement, Mr Biden and French President Emmanuel Macron said France and the US would work together to ensure the terms of the deal were followed.

What happens next?

Although the ceasefire deal brings to an end over a year of hostilities between Israel and Hezbollah triggered by the Hamas attack on Israel on 7 October last year, the devastating war in Gaza rages on.

Mr Biden said the US will make another push to achieve a ceasefire and hostage release deal between Israel and Hamas in Gaza.

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