The cut will increase fund resources for financial institutions, and the PBOC asked commercial banks to use the released funds to strengthen support on small, micro and private companies, a statement on the PBOC website said.
The court also gave a life sentence to gang member Xiong Kai for transporting drugs.
The court in Hanzhong said the defendant's actions constituted the crimes of intentional homicide and destruction of property, so it sentenced him to death.
The death toll from a series of road accidents that happened in Central China's Hunan province on Saturday has risen to 8, police said on Sunday evening.
The country's imports surged by 30.2 percent year-on-year to 1.19 trillion yuan (8.34 billion) in January, while exports increased by 6 percent to 1.32 trillion yuan, according to the GAC.
The cyclonic storm triggering gusty winds up to 190 kmph and rain battered West Bengal and coastal Odisha on Wednesday evening, flattening makeshift houses and uprooting electric poles and trees.
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The country's banks processed 14.92 billion mobile payment transactions in Q2, up 73 percent year on year, according to the People's Bank of China.
The data will be available online for free on an official website and via WeChat and will also be released in printed form.
The cyclone wreaked havoc on a scenic spot in Yucheng County in the city of Shangqiu at around 3 pm Sunday, according to the county's publicity department.
The deal is an important strategic investment for Legend. Financial services is one of the key target industries for the company, Legend Chairman Liu Chunzhi said.