The central bank meeting on Wednesday, chaired by PBOC Governor Yi Gang, stressed that "stabilizing expectations" was among the authority's priority tasks. In addition, monetary policy should focus on extending credit and innovating new tools, said a statement on its website.
The city will strive to build an industry driven by professional and entertaining sports events and public enthusiasm for fitness and wellness, a market featuring internationally competitive sports enterprises and a destination for major international sports events, complete with various major sports venues and facilities.
The city of Foshan. [Photo provided to China Daily]
The central bank has tried to strike a balance between financial deleveraging, aimed at defusing risks, and shoring up economic growth.
The central bank didn't change its monetary policy tone as "prudent and neutral", pledging to maintain "appropriate monetary and financial environment" for high-quality development and supply-side structural reform.
The central government is stepping up prevention and control measures for the desert locust and fall armyworm that might hamper harvests, a senior official said on Thursday.
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The central government introduced the special transfer payment mechanism in May to cushion local governments from the blow to their tax revenues caused by economic contraction in the first quarter of the year.
The circular noted that favorable support will be given to projects that may boost the employment for impoverished people in the poverty-stricken areas, old revolutionary base areas, regions inhabited by ethnic groups and border areas.
The central government set an annual target of increasing financial support to keep micro, small, and medium-sized business operations stable. In the Government Work Report, it said it will increase large commercial banks' inclusive financing to micro and small businesses by more than 40 percent this year, along with an expansion in the scope of the government financing guarantee and significant reduction of guarantee fees.
The center, once completed, would provide a venue to showcase products such as food, electronics, clothes from abroad, serving as a platform for sellers and buyers.