Policymakers have been striving to boost foreign capital flows to China's onshore bond market. The PBOC, the China Securities Regulatory Commission and the State Administration of Foreign Exchange together published rules on Sept 2, to open the onshore exchange bond market to foreign investors. Before that, foreign financial institutions were allowed to trade only bonds in the interbank market.
Pinduoduo noted in the letter that agricultural products from less-developed areas reported 220-percent growth in Singles Day sales, mainly purchased by consumers from the first-and second-tier cities.
Policymakers during the 1960s thought that there was a trade-off between inflation and unemployment, so they cut interest rates to stimulate the economy-judging that an increase in the inflation rate was worth it. In the same period, the US government budget deficit soared to pay for new social programs and the conflict in Vietnam. It turned out that stimulative monetary policies and the resulting inflation could buy short-term employment gains. But the economy soon reverted to an even higher base unemployment rate with long-term higher inflation.
Plans have been shelved three times to include China's A-share index in the EMI, which is compiled by Morgan Stanley Capital International, or MSCI.
Philippine Health Secretary Francisco Duque said the move is to allow local governments to draw on a special quick response fund needed in the fight against the mosquito-borne viral disease.
Piano teacher Zheng Danyi, who is almost blind, practices at her home in Nanchang. [Provided to China Daily]
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Policymakers have always wanted to avoid a repeat of the Asian financial crisis of the late 1990s and those that have affected other emerging markets, such as Russia and some Latin American countries.
Police Chief Superintendent Dominic Kakas said 50 police and immigration officials entered the Manus Island camp on Thursday and persuaded 35 of the 378 men there to leave for alterative accommodation in the nearby town of Lorengau.
Police station sergeant Lam Chi-wai, was also awarded the Hong Kong Police Medal for Meritorious Service in recognition of his exemplary and devoted service in Hong Kong for over 35 years.