The central bank also innovated policy tools, such as a small business loan purchase program, and further delayed loan and interest repayments by small and medium-sized companies to support the real economy by channeling funds directly into the sectors. But analysts said these programs may reduce liquidity supplies to the interbank system and the available funds for buying government bonds.
The central bank, meanwhile, is planning to release more countercyclical monetary measures soon, including maintaining "reasonably ample" liquidity and adopting structural monetary policy tools, Chen Yulu, vice-governor of the People's Bank of China, said on Monday. Policy banks like China Development Bank also will strengthen financial support for companies, Chen added.
The city has designated more than 1,000 parking zones for the bikes, with more planned.
The central authorities have stressed repeatedly that not a single ethnic group shall be left behind in the poverty eradication campaign, despite the economic damage caused by the COVID-19 pandemic and destructive summer floods.
The central bank will innovate and take advantage of structural monetary policy tools, such as targeted cuts of reserve requirement ratio, medium-term lending facility and re-lending, to increase credit support on micro, small and private companies, as well as manufacturing producers.
The city recorded 235 goodair days last year, 21 days more than that in 2016, according to data shared by Luo on the sidelines of the ongoing National People's Congress. He is a deputy to the top legislature.
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The city has also cultivated business connections with more than 210 countries and regions. And according to Yiwu customs, 1.08 million TEUs of goods were exported from Yiwu in 2018, up 15.9 percent, accounting for one-seventh of the containers leaving the Ningbo-Zhoushan Port in Ningbo, another city in Zhejiang province.
The central and State institutions should take the lead in enhancing Party building, implement the policies of the CPC Central Committee, continue to resolutely fight corruption and enhance supervision over the exercise of power, it said.
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 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.