The PBOC increasingly relies on open-market operations, rather than changes in interest rates or reserve requirement ratios, to manage liquidity in a more flexible and targeted manner.
The Ministry of Industry and Information Technology officially started issuing mobile telecommunication reselling service licenses to 15 enterprises, including Alibaba and Xiaomi, indicating a complete commercialization of a pilot program launched five years ago.
The Nasdaq has notched new records more than 30 times this year, including several in the wake of the coronavirus outbreak that has driven millions of people to shif to working from home and boosting demand for products such as video conferencing, video games and movie streaming.
The National Weather Service has issued a Red Flag Warning for much of Northern California starting Sunday due to extreme fire weather. Winds will likely be 20 to 30 mph, with gusts of up to 70 mph. These winds are forecast to be the strongest event this year, according to Cal Fire.
The New York Times reported on Friday that Ma would retire from the e-commerce company on Monday as the former English teacher seeks to focus on philanthropy in education.
The PBOC conducted 100 billion yuan ( billion) of seven-day reverse repos, a liquidity-injecting process in which the central bank purchases securities from commercial banks through bidding with an agreement to sell them back in the future.
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The PBOC also expects slower monetization in commodity and factor markets, standardized fund-raising of local governments, and continued reforms to contribute to stable leverage.
The Monday meeting also urged related government agencies to move quickly in formulating a detailed regulatory plan that covers the entire process of vaccine R&D, production, distribution and use to set up institutional safeguards for drug safety
The PBOC statement in its quarterly monetary policy report will help remove concerns that a "normalized policy" would lead to tight financial conditions, as the economic recovery has been faster than expected, experts said on Friday.
The Ministry of Industry and Information Technology said 5G is entering a critical period of commercial deployment globally and China's 5G industry has established a competitive advantage through a combination of innovation and open cooperation.