Xi Jinping opens China’s Communist party congress
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 17 October 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
China’s leader Xi Jinping is set to begin his third-consecutive five-year term, and the UK’s Jeremy Hunt starts his first full week as the country’s latest chancellor of the Exchequer. Plus, the US Federal Reserve’s aggressive interest rate hikes are boosting US banks’ bottom lines.
Mentioned in this podcast:
US banks gain from Fed rate hikes while keeping deposit interest low
Xi Jinping heralds ‘critical time’ in history as he prepares for third term in power
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.7 | Good morning from the Financial Times. |
| 0:11.2 | Today is Monday, October 17. |
| 0:13.2 | And this is your FT News Briefing. |
| 0:18.4 | The UK's fourth chancellor in four months commences with damage control this week. |
| 0:23.4 | US banks are getting a boost from higher interest rates |
| 0:27.0 | and China's Communist Party Congress is underway this week in Beijing. |
| 0:31.4 | The long agenda boils down to this. |
| 0:34.5 | Is Xi Jinping going to win big? |
| 0:36.7 | Or is he going to win really, really big? |
| 0:40.0 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:50.6 | The UK's new chancellor of the ex-checker, Jeremy Hunt. |
| 0:53.7 | Yesterday said Prime Minister Liz Truss is still in charge. |
| 0:58.2 | Today? No, we can't be sure. |
| 1:00.8 | Truss sacked her last chancellor, quasi-quartang on Friday. |
| 1:04.1 | He's the one who helped deliver the budget plan that threw UK markets into turmoil. |
| 1:08.4 | The plan was central to Truss's own leadership. |
| 1:11.4 | Now she says she's going to undo parts of it. |
| 1:13.9 | And Chancellor Hunt said he'll set out a new budget on October 31. |
| 1:18.4 | Here's the FT's George Parker. |
| 1:20.4 | We're going to find out in the next few days and starting on Monday, |
... |
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