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The PBOC issued a document on Tuesday lowering the rural commercial banks' RRR to 8 percent by July 15, through three cuts of 1 percentage point each every month starting from May. The released funds need to be used for lending to private and small companies, the document said.

The National Development and Reform Commission and the Ministry of Commerce unveiled a shortened negative list for foreign investment on Thursday, with the number of items down to 48 from 63 in the previous version.

The PBOC also pledged to implement bilateral local currency swap agreements to further facilitate cross-border trade and investment, while maintaining financial market stability.

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The PBOC announced last week the introduction of a "counter-cyclical adjustment factor" to calculate the renminbi exchange rate price quotation, by increasing the weighting of macroeconomic fundamentals.

The Nuuanu dam was built for hydroelectricity, but it isn't currently being used for anything, Elliot-Pahinui said. Officials hope to repurpose it as a part of a hydroelectric project, she said.

The PMI, a key barometer of the health of the nation's manufacturing sector, came in at 51 in August versus 51.1 a month earlier, with sub-gauges of new market orders and employment improving while production declined, the NBS said.

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The PSA said Japan ranked fourth with export shipments valued at 6.31 million or a share of 13.1 percent.

The New York Times, in an article published on Sunday, said Washington had failed to act quickly in part due to Trump's confidence in his gut instincts and his distrust of civil servants he brands as a conspiratorial "deep state".

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The PBOC is in charge of making the policy measures, and the pilot program could be extended to other areas, but that depends, the Commerce Ministry said in the document.

The Ministry of Foreign Affairs also denounced the US action as "unilaterlistic and protectionist".