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Saudi Investment Ministry Signs 2 MoUs at Riyadh Global Medical Biotechnology Summit

The Ministry of Investment signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology. SPA
The Ministry of Investment signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology. SPA
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Saudi Investment Ministry Signs 2 MoUs at Riyadh Global Medical Biotechnology Summit

The Ministry of Investment signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology. SPA
The Ministry of Investment signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology. SPA

The Ministry of Investment signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology at Riyadh Global Medical Biotechnology Summit 2023, the Saudi Press Agency reported Friday.

The MoUs were signed in the presence of Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih, SPA said.

The summit was organized by the Ministry of National Guard represented by Health Affairs Department in Riyadh on January 25-26.

The two MoUs aim to enhance joint cooperation with the biotechnology and medicine sector in the Kingdom, transfer knowledge, localize the industry, contribute to enhancing human health and quality of life, increase awareness and establish centers specialized in research, SPA said.

The Ministry of Investment is a strategic partner to Riyadh Global Medical Biotechnology Summit 2023, which hosts a group of international experts to discuss the latest developments in medical biotechnology, it added.

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China to Focus on Stabilizing Housing Market in 2025, Housing Regulator Says

A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
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China to Focus on Stabilizing Housing Market in 2025, Housing Regulator Says

A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)

Efforts will continue in 2025 to stabilize and prevent further declines in China's real estate market, China Construction News reported, citing a work conference held by the housing regulator on Tuesday and Wednesday.

China will vigorously promote the reform of the commercial housing sales system, and expand the scope of urban village renovation beyond the addition of 1 million units, the report said.

China will strictly control the supply of commercial housing, while increasing the supply of affordable housing to help solve the living problems of a large number of new citizens, young people and migrant workers, it said.

Policymakers have stepped up efforts to revive the real estate by introducing new measures to encourage home demand after a government-led campaign to rein in highly leveraged developers triggered a crisis in 2021.

Since September, measures aimed at encouraging homebuying have included cutting mortgage rates and minimum down-payments, as well as tax incentives to lower the cost of housing transactions.

The real estate market has shown some momentum of stabilizing, with home transactions in October and November seeing year-on-year and month-on-month growth for two consecutive months, said the conference.

China's home prices fell at the slowest pace in 17 months in November, supported by government efforts to revive the sector, official data showed.

An official of the Central Financial and Economic Affairs Commission in December called for policy measures with direct impact on stabilizing the real estate market to be adopted as soon as possible, with local governments getting greater autonomy to buy housing stock.