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The national governance modernization program acknowledges this needs to be kept up if China is to meet important goals later this century.

The new Google Cloud campus in Seattle’s South Lake Union neighborhood. (GeekWire Photo / Kurt Schlosser)

The new governor, who joined the bank in 1997, pledged to implement prudent monetary policy, make progress on financial reform and opening-up and maintain financial stability. That will be the "most important task", and China's financial sector should remain stable, Yi said after his nomination was endorsed at a meeting of the annual session of the 13th National People's Congress.

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The new line, which is expected to be ready by 2024, is expected to reduce commuting time between Hongqiao International Airport and Pudong International Airport to 40 minutes. Trains on this new line will operate at a speed of 160 kilometers per hour.

The new listing rule comes after a Chinese Depository Receipt (CDR) mechanism was released on the Chinese mainland last month as part of efforts to further open up the capital market, encouraging firms to be back in the mainland's A-share. But Li was confident in Hong Kong, as he believed the mechanism was not for competition with Hong Kong.

The new tariff mechanism will only further increase exposure to market-based prices, with any tariff reductions resulting from lower coal prices likely to pressure profit margins.

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The new capital is supposed to be one of the solutions to ease the chronic congestion of Cairo, with a demographic burden of more than 20 million inhabitants. Egypt's government institutions are scheduled to move to the new capital in the second half of 2019.

The new tax replaces the previous pollutant discharge fees, which the government started to collect from enterprises in 1979. The central government takes a 10 percent share of the amount collected from all companies.

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The national security committee, under the chairmanship of the SAR's chief executive, also include the SAR's other top officials, including the chief secretary for administration,the financial secretary,the secretary for justice, the secretary for security and the commissioner of police.

The new area will strive to expand its cooperation with investors from Hong Kong and Macao to achieve that goal.