this as the world's number two economy continues its uneven recovery. we get a preview of crucial economic data due today. hello, and welcome to business today. i'm arunoday mukharji. we're getting live pictures from canberra as chinese premiere li qiang is welcomed into the capital city. the ceremony and welcome he's likely to get, a short while from now we should see li qiang coming out there, so we will keep looking out for that. this is the first visit by a chinese leader in seven years. mr li will also meet with australian prime minister anthony albanese today. it is something we are looking

at because of trade ties and geopolitics will be key on the discussions. chinese premier li qiang is in australia for a four—day visit amid warming ties between both countries. he kicked off his trip on sunday, with a stop at the adelaide zoo to visit a pair of pandas on loan from china. he also met with foreign minister penny wong and a number of south australian wine exporters. china is currently australia's largest trading partner. last year, two—way trade with china grew over 9% to over $300 billion. we'll keep coming back to those visuals. i spoke with former australian ambassador to china geoff raby who explained the significance of this visit.

to feel the chest, the relationship has effectively normalized and that is what china is looking for. beyond that, in terms _ china is looking for. beyond that, in terms of— china is looking for. beyond l that, in terms of geopolitics, does it way on relations given the fact that australia is a strong ally of the united states but depends on china for trade, how do you reckon going forward that australia manages to balance these out? it’s forward that australia manages to balance these out?— to balance these out? it's a critical issue, _ to balance these out? it's a critical issue, it's _ critical issue, it's interesting to note that since the seven years since the last high visit from a chinese leader to australia, china has gone from 16% to 75% of the value of the us economy, so this marks a huge shift not only in economic weight but power, and it has been what i surely has struggled with over the past seven years. and these

issues go way beyond the pandemic, essentially they go back to 2016 — pandemic, essentially they go back to 2016 - 2017, pandemic, essentially they go back to 2016 — 2017, when the us decided to treat china as a us decided to treat china as a us —— a strategic competitor, and that shaped a response to china up until the election of the latest government. it would always be an issue and challenge because we are balancing a huge economic relationship as mentioned with a secure relationship with china. to focus on distances really misses the point. all that bilateral relationships have differences, differences of views it is how you resolved them, and having a sort of dialog provides a basis for solving those differences.

it's the start of a brand new week, with lots on the economic calender. on monday, we'll get a pulse check on china with the release of retail sales, unemployment and industrial production figures for may. retail sales, also a gauge for household spending, have failed to pick up this year as china struggles to spur domestic demand. it's also a big week for global central banks. on tuesday, we'll hear from the reserve bank of australia which is widely expected to keep its cost of borrowing rate steady, as inflation remains elevated. the bank of england is up next on thursday. i spoke with katrina ell of moody's analytics who laid out her expectations for the busy week ahead. 0ur expectations for the main data is that we will continue to see household spending lag behind the manufacturing and broader export engine in the economy,. we are seeing that hustlers have unfortunately not got there groove back after the pandemic restrictions were pulled back, and spending is just been continuing the lackluster. part of that is due to the fact that the property market is continuing its

ongoing deep correction, particularly in the smaller cities, and because household wealth is largely tied up to the property market, a correcting poverty market flows to weaker spending amount but on the industrial production side of things, it is going in a much better position than retail trade, particularly given the ongoing fiscal and monetary support directed to the sector. 0ngoing lopsided recovery coming out of that data. �* ., . ,., , data. and we touch upon this durin: data. and we touch upon this during the — data. and we touch upon this during the introduction, - data. and we touch upon this during the introduction, your| during the introduction, your expectations of the decisions we are likely to see from the rba as well as the bank of england. it rba as well as the bank of encland. ., rba as well as the bank of england-— rba as well as the bank of encland. ., ., , ., england. it would not be that an interesting _ england. it would not be that an interesting of _ england. it would not be that an interesting of our - england. it would not be thatj an interesting of our meeting coming up out of the back of us earlier this week, we expect them to maintain the cash rate on hold, and that is coming back to that inflation is nowhere near the near where the rba wanted to be in the 2% or 3% range, it is still too high, and for the bank of england, we

see that why there were expectations heading into the meeting we might see a cut, even that core inflation is just too high, we think they will hold this week as well. turning to india now — chetna gala sinha has been leading the way for women's empowerment for over 25 years. she founded the mann deshi foundation in rural india with the aim of economically and socially empowering women and set up india's first bank for and by women to support the needs of female micro—entrepreneurs. the bbc�*s sally bundock caught up with her in london and asked her how her organisation operates. so monday, she is the women's bank women's co—operative bank, which was founded by me and we have monday she foundation, which runs the business school for rural women. which was founded by me and we have mann deshi foundation, which runs the business school for rural women. so when i started bank,

it wasn't that i had in my mind that, you know, i'm going to start the bank. but women came forward and they wanted to do savings. so this is like two and half decades back, the bank was started. and today these women actually they have never been to high school. they have never got an opportunity to do that. but today they are doing digital banking using mobile wallet, transferring money through the smartphone. that was 25 years ago. what has changed for women across india in that time? the one thing which i with this one is that now women are setting up the business, they are using the technology. they didn't get an opportunity to go to high school, but they could learn. i mean, they can use the technology. and it's not like when i say technology for them, it's not just technology, right? they have to buy the cell phone first thing. and not onlyjust feature phones, smartphone, they take a loan from the bank to buy a smartphone. they do digital transaction through digital wallet. they use atm cards. so this is the technology which has changed their life. and these women who say

who never knew to read and write, but they said we can count and we can run this institution. so they are member of the bank, now, the second generation, are aspiring to become engineers, police force, joining police force, getting the sports into that, becoming the coaches in the sports so that in the villages of india, jobs are not available so much, but they are setting up the businesses, making the paper cups, paper plates, manufacturing that and selling that. so the second generation of stone breakers have are aspiring and becoming professors, job seekers and setting up the businesses. we've just had an election in india which was surprising in the outcome. narendra modi, his party not getting the big majority that was expected. what do you hope for the indian

economy going forward and forfemale business women in india? i mean, india is a multiparty democracy. it's a very vibrant democracy. so it's always good to have more and more voices in the parliament and the representation in the parliament. now, when it comes to women, i see that of course in parliament the representation of women is not that high. but it was very interesting that the participation of women in the election was really very high. what does it show? it shows that the women are coming forward. they want to participate in political process. you know what a young girl said? they said that we will first think of farmers. we will think that they get regular water, electricity and produce. then they were talking about their own mobility because infrastructure has to be good, otherwise girls will not be able to go out if public transport is not there from the villages. so it's very important that as the participation increases,

then that voices will come in the manifesto and in the parliament. back to canberra in australia, where that big meeting is taking place between the chinese premier being welcome in australia, and those are failure —— visuals of the sermon it coming lee chih chen, a big visit because of the first one since 2017 by a chinese premier, cigna noted marking improving ties there is his official vehicle as li qiang arrives. that is the big story we are checking, that's it for business today.

hello and welcome to sportsday — i'm hugh ferris. here's what's coming up... bellingham brings england victory as one of the tournament contenders get their euro 2024 campaign under way he's at the other end of his career but cristian eriksen�*s goal is special nonetheless. he gives denmark a draw nearly three years to the day since he collapsed in the last european championship

andjack draper wins his first tour title as his most successful predecessor as british number one considers the right time to bow out... hello again. jude bellingham scored the first goal of england's last world cup campaign. and he's done the same for his country at euro 202a. between the two, the 20—year—old real madrid midfielder has become one of the most celebrated players on the planet, and he proved crucial once again, giving england a 1—0 win over serbia. 0ur sports editor dan roan was watching in gelsenkirchen... lunchtime in gelsenkirchen and england fans already making themselves heard as they flocked full

of euros confidence.