The National Internet Finance Association of China, which is a self-disciplining industry association under the aegis of the PBOC, became the largest shareholder with a 36-percent stake, while the rest of Baihang's stake is equally shared by the other eight credit firms.
The OECD forecasts GDP growth in the United States to slow by 0.1 percentage point to 2.8 per cent in 2019 and further slide to 2.3 per cent in 2020.
The New International Land-Sea Trade Corridor, launched in 2017, is a trade and logistics passage jointly launched by provincial regions in western China—such as Chongqing municipality and South China's Guangxi Zhuang autonomous region—and Southeast Asian economies, such as Singapore. It offers a rail-sea freight transport route between western China and other economies, which is faster and cheaper than existing ones.
The National Immigration Administration, which formally started operation in April, is aimed at pooling resources to improve immigration services and better serve the country's development and opening-up.
The New York-based financial group will become the latest foreign bank to gain control of its investment banking business in China as the country steps up financial liberalization to give foreign companies greater access to the Chinese market.
The National Development and Reform Commission said on Tuesday that by the year's end, it will finish compiling a plan on the development of five interregional city clusters, which analysts said will boost regional economies and contribute to China's balanced development.
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The Ministry of Finance set the coupon rates for the five-year and seven-year special treasuries for COVID-19 control at 2.41 percent and 2.71 percent, respectively, lower than expected.
The National Day holiday this year reaped 4.38 billion yuan in box office takings, a 129 percent year-on-year increase, and a record high compared with the previous National Day holidays, a report from Maoyan showed. Film box office takings hit 795 million yuan on the first day of the National Day holiday, the highest single-day recorded compared with past National Day moviegoing seasons.
The Palace Museum, or the Forbidden City, announced on Wednesday night that it will "gradually reopen in good order" starting Friday after having closed its doors for over three months due to COVID-19.
The Ministry of Land, Infrastructure, Transport and Tourism has mobilized pumper trucks to drain inundated areas. But it is likely to take about two weeks to complete the drainage, officials said.