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The next blow was the financial crisis of 2007-2008, generally considered the worst worldwide financial downturn since the Great Depression of the 1930s. Wall Street was hit hard and many lost their jobs. But then-mayor Michael Bloomberg had an idea: diversify the city's economy.

The office also expressed strong condemnation of and firm opposition to the groundless accusations by governments and politicians of the United States and the United Kingdom against Hong Kong police's law enforcement.

The one-year interest rate charged by the PBOC's lending to financial institutions that take deposits－called the re-lending rate－decreased by 0.25 percentage point to 2.25 percent. That is aimed especially at increasing cheaper credit for agricultural and small firms. Meanwhile, the rediscount rate dropped by the same extent to 2 percent, the central bank said.

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The officials also seized one ship and a large number of physical evidence. The case is currently under investigation.

The number of Fortune 500 companies and industry leaders scheduled to participate in the third China International Import Expo has almost equaled that of the previous editions, China Central Television reported.

The normalization of the China-Europe freight service serves as evidence that the city's logistics and production is gradually recovering, and will become a strong backstop for commerce and trade, said Tu Shanfeng, board chairman of Wuhan Port and Shipping Development Group.

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The official PMI, which is released by the National Bureau of Statistics (NBS), samples 3,000 manufacturing enterprises in China. The Caixin PMI samples some 500 manufacturers and is relatively volatile due to its small sample size and less involvement of large enterprises.

The news was first spotted in the U.S. by TechCrunch.

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The numbers of tourists arriving from the Chinese mainland had significantly dropped in the third quarter of last year.

The numbers were driven by a boom in the amount of research taking place in the industry. China has applied for 15,745 AI patents, ranking second worldwide, according to Liu Lihua, vice minister of industry and information technology.