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The Red Army grew as poor people from across the country pinned their hopes for the future on the force and flocked to join it, playing an important role in the nation's victory in the 14-year War of Resistance Against Japanese Aggression (1931-45).

The SAR failed to legislate after almost 23 years since its return to China, Chen noted. It is legitimate for the central government to exercise its power to legislate in order to deal with situations where national security has been seriously damaged in the SAR, Chen said.

The RRR cut will set free 1.2 trillion yuan (4.7 billion) in the banking system, according to a statement on the central bank website. Among the newly liberated funds, 450 billion yuan will be used to pay back commercial bank borrowings under a facility which expires on Oct 15.

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The Seattle Metro Chamber of Commerce, which aggressively campaigned against the tax, sees its repeal as an opportunity to create a less divisive approach. Chamber CEO Marilyn Strickland called it a “chance to move forward in a productive, focused, and unified way on the homelessness crisis.”

The People's Bank of China pumped 130 billion yuan (about .3 billion) into the market through reverse repos, with 60 billion yuan of contracts maturing, leading to a net injection of 70 billion yuan. This followed a net injection of 30 billion yuan on Tuesday.

The Republican president also threatened to impose a hefty fee on Toyota if it were to build Corolla cars for the US market at a plant in Mexico. But since January, Trump has praised Toyota for its US investments.

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The People's Bank of China conducted 150 billion yuan (.75 billion) of seven-day reverse repos at an interest rate of 2.55 percent.

The People's Bank of China injected the money into the market through seven-day reverse repos at an interest rate of 2.5 percent. No reverse repos matured Monday.

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The S&P 500 tumbled 7 percent in the early afternoon, triggering a key circuit breaker that halted trading for 15 minutes. It was the second time this week that the circuit breaker had been tipped and the fourth time since last week.

The Qilian Mountains stretches for over 1,000 kilometers at the south of the Hexi Corridor - a main artery on the ancient Silk Road. It has an average elevation of 4,500 meters, with many ridges piercing high into the sky.