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. let's start with the big story with benchmarking. chinese premier li qiang received a warm welcome in canberra early this morning amid but better ties between the nations, those are visuals from earlier when he arrived in his official vehicle. he will have a closed—door meeting with prime minister anthony albanese later in the day. on sunday premier li stopped at the adelaide zoo to visit a pair of panders on loan from china and met with foreign minister penny wong and a number of south australian wine exporters. to put the relationship and perspective from an economic point of view, china is australia's current

largest trading partner and this is why. look at the figures, 2—way trade grew over 9% to over $300 million. i spoke with former australian ambassador to china geoff raby who explained the significance of this visit. the significance of the visit is that not only is it the first since 2017, but it marks the resumption of the annual reciprocal high—level visit exchanges. these started in the 1980s and continued until 2017 and they are resuming again. to the comments by philjust then, relations have normalised and that's what china is looking for. beyond that, in terms of geopolitics, does it weigh 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? absolutely. it's a critical issue, it's interesting to note that

since the seven years since the last high—profile visit from a chinese leader to australia, china has gone from 16% to 75% of —— 60% 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 australia has struggled with over the past seven years. and these issues go way beyond the pandemic, essentially they go back to 2016 — 2017, when the us decided to treat china as a strategic competitor, and australia fell in line with that, and that shaped a response to china up until the election of the albanese government. it would always be an issue and challenge because we are balancing a huge economic relationship as phil mentioned with a security relationship with china. to focus on differences really misses the point. all bilateral relationships have differences, differences

of views, it is how you resolve them, and having a sort of dialogue provides a basis for solving those differences. in other news — german sportswear brand adidas is investigating whistleblower allegations of large—scale bribery among some managers in its operations in china. according to the financial times, the complaint was apparently raised by adidas employees in china, who wrote a letter accusing unnamed staff of embezzling millions of dollars. the allegations were outed in chinese social media earlier this month. adidas told the ft that it was committed to complying with regulations and ethical standards in all of its markets. more from china. 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. we will turn to the bank of england which is up next on thursday. i spoke with katrina ell of moody's analytics who laid out her expectations for the busy week ahead. our expectations for the may 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 households have unfortunately not got their groove back after the pandemic restrictions were pulled back, and spending has just been continuing in 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 property 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. ongoing lopsided recovery coming out of that may data. and we touched upon this during the introduction, your expectations of the decisions we are likely to see from the rba as well as the bank of england? it would not be that an interesting of a meeting coming up out of the bank of australia 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 while there were expectations heading into the meeting we might see a cut, given 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 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 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

never knew to read and write, but they said we can count and we can run this institution. so they are a 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. have a look at this before we go. this isjoy, coming to you live in riley's mind! make some noise! disney and pixar�*s inside out 2 debuted this weekend in cinemas worldwide, grossing $140 million globally and roughly $150 million in the us. that's the second—highest theatrical opening of an animated film. it is the first movie since warner brothers�* barbie to top $100 million during its debut. that's all for now. thanks very much for watching. stay on for bbc news.

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. and jack 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. our 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.