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The regulator issued administrative measures for asset management subsidiaries of commercial banks on Dec 2 to guide wealth management funds to invest in financial markets in a legal and standardized way, with the aim of supporting the real economy, the part of the economy that produces goods and services.

The renminbi exchange rate is approaching "clean floating"－an exchange rate regime without any government intervention and an exchange rate determined by market demand and supply, Huang Yiping, deputy head of the National School of Development at Peking University, and also a former member of the central bank's monetary policy committee, told China Daily in an interview on Monday.

The region received more than 40 million domestic and overseas tourists in 2019, an increase of 19.1 percent year-on-year, and its income from tourism reached nearly 55.92 billion yuan (.9 billion), up 14 percent year-on-year.

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The report noted that mobile gaming accounted for more than 60 percent of total game sales, playing an important role in the overall gaming market.

The report said China is firm in its commitment to international anti-corruption work. On Oct 22, the G20－an international forum consisting of 19 countries, including China, and the European Union－signed a ministerial communique during a meeting of anti-corruption ministers calling on all its members to strengthen international cooperation in the pursuit of fugitives and play a leading role in the global anti-corruption cause.

The reopening of border checkpoints with the mainland is also on the list of Lam's proposals, as the pandemic has forced their closure for about nine months and this situation is not expected to change as Hong Kong continues to report new cases of coronavirus infection.

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The report suggested the government continue to reduce corporate debt and restructure State-owned enterprises, tighten the regulation of shadow banking and address rising household mortgage debt in order to encourage growth while implementing reform.

The report also said that the Chinese economy currently showed many favorable conditions to sustain medium-high growth and move toward a medium- to high-end level, laying a solid foundation for the development of foreign trade.

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The report came a day after Pyongyang fired two projectiles from Yonghung, South Hamgyong Province, into the East Sea, which Seoul said appeared to be short-range ballistic missiles. It was the third such launch in over a week.

The region received more than 35 million visitors last year, up from about 7 million in 1999, said Maria Helena de Senna Fernandes, director of the Macao Government Tourism Office.