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The Picasso portrait was only the second most expensive lot of the Christie's auction. A bronze of a woman's head, La Muse Endormie (The Sleeping Muse), sold for .37 million, a new auction record for Romanian-born sculptor Constantin Brancusi and fetching over twice its lowest pre-sale estimate, Christie's said.

The Paris Forum on New Silk Roads was sponsored jointly by the French Institute for International and Strategic Affairs and Chinese Embassy in France.

The Republic of Korea said on Thursday that Kim Jongun, top leader of the Democratic People's Republic of Korea, is expected to visit Seoul "soon" as part of a flurry of high-profile diplomacy aimed at denuclearizing the Korean Peninsula, with analysts saying the move may pave the way for a second summit between the DPRK and the United States.

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The People's Bank of China restarted reverse repo operations after a suspension of 19 consecutive trading days, through which 40 billion yuan (5.8 billion) was injected into the banking system, according to a statement on its website on Thursday.

The People's Bank of China (PBOC) conducted 80 billion yuan (.6 billion) of seven-day reverse repos at an interest rate of 2.55 percent.

The SAFE attributed the growth of external debt to steady economic growth and stable foreign trade in the first half as well as the central government's efforts to facilitate cross-border financing.

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The Plaza Accord was signed between the U.S., France, the United Kingdom, West Germany and Japan in 1985 to spearhead efforts to weaken the dollar in order to correct U.S. trade imbalances.

The S&P 500, a broader index than the 30-stock Dow, dropped 34 percent between February 19 and March 23 as the economy shut down amid the coronavirus pandemic. It has regained about 28 percent, but some investors question the strength of the rally and have shorted cruise lines, hotels, resort and technology stocks.

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The SD series is designed to provide reliable, convenient and economic launch services for commercial satellite enterprises to build their networks or test their equipment, Tang said.

The People's Bank of China, the central bank, announced the injection of a total of 267.4 billion yuan (.79 billion) into the banking system, to increase lending to small and private businesses.