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The city's foreign trade dependence degree, the ratio of foreign trade volume to the city's gross domestic output (GDP), rose for three consecutive years to 39.57 percent.

The city estimates the taxes collected from companies below the billion annual payroll threshold will generate about 3.5 million dollars each year. The City Council does not know how much additional revenue would come from taxes on companies with annual payrolls exceeding billion annually because that data is confidential.

The center will employ 200 people and recruitment will begin toward the end of the year.

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The central bank's move elevates the funds target rate to 1.75 percent to 2 percent.

The center is playing a central role in a local drive to raise public awareness about garbage sorting. Last year, it received more than 23,000 visitors, including residents, students and employees of public bodies seeking inspiration on garbage sorting.

The city reported one new case on Sunday and another patient was discharged from the hospital, which means Beijing has reported less than 10 new local cases for eight days in a row, according to the municipal government.

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The central government will help the city in testing and building temporary quarantine and treatment centers, in addition to providing medical supplies and daily necessities that the mainland has delivered to the SAR since January, he added.

The center helps preserve local traditions such as the Torch Festival and the Rice Transplanting Festival.

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The city, known as Dalt and believed to have been built in Song (960-1279) or Yuan (1271-1368) dynasties, was discovered in 1985, when a farmer unearthed a silver coin while ploughing a field.

The chief executive said the continuing unrest has crippled retail trade, as well as catering, transport and numerous other businesses associated with the tourism industry in Hong Kong.