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The NDRRMC said a total of 334 areas in Ilocos, Central Luzon, Calabarzon, CAR, and NCR were flooded, though many of them have already seen water subside.

The PBOC will also optimize the financing and credit structures, improve the transmission mechanism of monetary and credit policies, and raise the capacity and willingness of financial institutions to serve the real economy to create a moderate financial environment for supply-side structural reform and high-quality development.

The PBOC will lead the banking sector to sacrifice part of their profits to support the real economy, or the non-financial sector, Sun added.

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The PBOC officials also confirmed that the rules on asset management products, which debuted in April 2018, will be postponed, probably by one more year. The rules were seen as the strictest measures ever issued by Chinese authorities to control shadow banking businesses.

The National Australia Bank Ltd stressed that greater liberalization will open up the capital markets and reward those who have been "patient and invested" in the mainland.

The National People's Congress Foreign Affairs Committee said in a statement Thursday that the move seriously breached international law and basic norms and was gross interference in Hong Kong affairs, which are China's internal affairs.

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The New York Democrat also said they will discuss whether Trump's alleged actions "warrant the House's exercising its authority to adopt articles of impeachment."

The PBOC move appears to have struck a chord with market mavens. "Regulating the minimum rates of return on structured deposits will effectively help banks break out of the prisoner's dilemma on attracting deposits by offering higher savings rates. When principal-protected deposit products with relatively high interest rates are no longer available, depositors will have no other option but to choose products that carry higher risk but offer lower returns," said analysts led by Ma Kunpeng with SWS Research Co Ltd in a report.

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The New York State Catholic Conference also voiced criticism of closing Catholic private schools, saying rather than close all schools in the neighborhoods, the city and state should focus only on those that have seen a surge in infections.

The Ministry of Finance said Monday China has decided to impose a tariff of 15 percent on 120 items of products imported from the United States including fruits and related products, and a tariff of 25 percent on eight items of imports including pork and related products from the country.