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The central bank's other top policymakers are drawn from the Fed's 12 regional banks and chosen by local boards of directors, not the US president.

The central bank has been using the MLF to channel funds more directly to sectors of the economy that need it most.

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.

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The city is playing a key role in the development of the Guangdong-Hong Kong-Macao Greater Bay Area, which aims to become the world's largest bay area by GDP in 2030. Given the total population in the bay area, Guangzhou's growth potential, technological prowess and business prospects are "inestimable", Luo said.

The central government has unveiled a new package of measures to spur the growth of foreign trade, including steps to support exporters' use of new technologies and channels to explore the international market and enhance the competitiveness of small and medium-sized enterprises.

The city noted that starting from Monday the service will not only be open to local permament residents but also to the deceased without local household registration who died and were cremated in the city, according to the city's civil affairs bureau.

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The city's flood season, which will begin in June and last till September, is expected to bring dense precipitation, stronger typhoons, more high-temperature days and convective weather, according to Dong Rong, director of Shanghai Meteorological Service, during a news conference on Wednesday.

The ceremony was attended by over 200 guests from all areas. It was followed by the establishment of the Macao Committee for Guangdong-Hong Kong-Macao Greater Bay Area Development of Boao Forum for Asia and the signing of MOU for strategic cooperation between the BFA and the Macao SAR.

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The center will promote "the research and teaching of the material and visual cultures that flourished along the Silk Road and formed a bridge between the many economic epicenters of Eurasia and China. A better understanding of the Silk Road's history will also help contextualize its emergent geopolitical significance in the present time," the press release said.

The central plank of that strategy is the inauguration of the Consinee Shanghai Center, located near the Hongqiao Railway Station, arguably Asia's largest transportation hub.