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The PBOC is considering kicking off reform of the existing interest rate regime. The possible step is to replace the one-year benchmark leading rate with a more sensitive and market-driven rate. Experts expect the loan prime rate, or LPR, may become the next benchmark.

The National Development and Reform Commission said this month that China's overall leverage levels had dropped by the end of 2016, compared with the end of the third quarter of 2016. It also said that by the end of June, the asset-to-liability ratio of major industrial enterprises had dropped to 55.9 percent from 56.7 percent a year earlier.

The PLA also used the occasion to publicize its achievements in armament modernization as nearly half of the weapons and equipment used in the event were presented for the first time in a parade, according to organizers.

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The Palace Museum authorities also announced that the capped number of visitors will be adjusted accordingly as the COVID-19 situation changes.

The PMI for the non-manufacturing sector came in at 53.6, versus 53.2 in April, indicating a quicker pace of recovery in the services and construction sectors, the bureau reported.

The New York Fire Department responded to the explosion. No injuries were reported.

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The PBOC-affiliated newspaper Financial News said the central bank was likely to implement a targeted RRR cut Thursday, a move announced in September.

The Ministry of Transport together with related departments will launch a nationwide safety inspection of ride-hailing platforms including Shouqi Limousine & chauffeurs, Shenzhou Zhuanche, Caocao Zhuanche, Yidao Yongche, and Dida Chuxing, through the end of this year.

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The Ministry of Public Security sent a team led by a senior officer to guide the investigation into the case.

The Organization of the Petroleum Exporting Countries has forecast that China's crude oil demand will surge next year, as the nation's economic activity recovers strongly following the COVID-19 outbreak.