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Liu Yi, a professor at the School of Economics in Peking University, said: "A wave of tax reduction competition is likely to emerge among the world's major economies over the long term if the US president can finally sign the bill. Governments' expenditures on welfare could be reduced, and that may drag down the level living standards of social livelihood."

Liu said her mortgage does bring some pressures, and she has reduced her spending on leisure and travel. For example, she now spends more spare time reading at home, where she feels at ease as the French windows provide plenty of light.

Liu Chunsheng, associate professor at the Central University of Finance and Economics, said the fall in prices of bulk commodities showed global investors' weak sentiment amid uncertainties and continued downside economic pressure.

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Liu Yunnan, a master of law graduate of Peking University who started working in Donghu community in Yuhang in 2018, first served as a clerk and was promoted a year later, becoming the community's Communist Youth League chief.

Liu Tingzhu (right) receives a new medal from Jin Gang, an official with the Beijing Municipal Veterans Affairs Bureau, at Liu's home in Beijing on the night of Oct 25, 2020. Liu, 92, lost his memorial medal for the War to Resist US Aggression and Aid Korea (1950-53) while visiting the Summer Palace on Saturday. [Photo by CHENG GONG/FOR CHINA DAILY]

Lin's body was found four days later. Forensics confirmed that she died from mechanical asphyxia caused by drowning and injuries to her head.

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Liu is being investigated by the Communist Party of China Central Commission for Discipline Inspection and the National Supervisory Commission.

Liu said the actual poverty line had reached over 3,000 yuan (7) last year and would exceed 4,000 yuan this year.

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Liu Changge, chief engineer of the city's transport commission, said the 6.5-kilometer lane has carried as many shared bikes as personal bicycles on the road since opening. It largely helps ease traffic congestion between Huilongguan, a densely populated community in the capital's northern Changping district and Shangdi, where a large number of high-tech companies are located.

Liu Xinyi, from Jiangsu province, said her 81-year-old grandmother is dependent on younger relatives to help her withdraw her pension, get health checkups and see doctors.