The central bank also included the implementation of the new LPR scheme and loan interest rate competition behaviors in the macro-prudential assessment of banks to urge market players to follow the new LPR rules.
The ceremony was held by the CPC Central Committee and the State Council at the Memorial Hall of the Victims in Nanjing Massacre by Japanese Invaders in Nanjing.
The central government has allocated more than 10 billion yuan (.4 billion) this year to improve the environment at rural areas, an official at the Ministry of Agriculture and Rural Affairs said on Sunday.
The city also plans to develop more cruise tours along the river, which attracted 2.25 million passengers in 2017. In the next three years, that number is expected to grow to 6 million, the municipal government said in May.
The city has been committed to innovation. It has invested around six percent of its GDP into research and development (R&D) per year over the past five years.
The city was also designated last year by national authorities as a "Famous Software City", a leading zone for innovative, national-level artificial intelligence applications. It has established a pilot part for the development of 5G video in its West Coast New Area.
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The central bank noted that the effects of the coronavirus will "weigh on" US economic activity in the near term and pose risks to the economic outlook. Therefore, the Federal Open Market Committee (FOMC), the Fed's policy-making committee, decided to lower the target range for the federal funds rate to 0-0.25 percent.
The city now annually invests more than 30 million yuan (.76 million) to support the development of optoelectronic industrial development and help attract optoelectronic and high-end laser projects to settle down in the city, according to Hou.
The city of Hohhot has exceptional advantages in undertaking industries transferred from Beijing. Some of the factors include its close proximity to Beijing, advantageous locations, sufficient talents, low cost and preferential policies, as mentioned in Feng’s speech.
The central bank will also promote equity financing for private firms, working with various financial institutions, including fund management companies and brokerages. The measure is expected to reduce risks related to private firms securing financing by pledging shares as collateral, according to the meeting.