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The chip wholly developed by Xiaomi's subsidiary Pine Cone Electronics is displayed in Beijing, on Feb 28, 2017. [Photo provided to chinadaily.com.cn]

The city will implement an upgraded recruitment initiative, the Taihu Lake Talent Plan 2.0, that will provide greater support for wooing talents with a global vision, according to a government press conference held on Thursday.

The central government collected more than 8.1 trillion yuan in fiscal revenue, up 7.1 percent year on year, while local governments saw fiscal revenue expand 7.7 percent to top 9.1 trillion yuan.

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The central bank started to implement a targeted RRR cut last month, which allowed commercial banks whose annual outstanding or new loans in inclusive financing accounts for more than 1.5 percent of the total to enjoy a 0.5 percentage point RRR cut from the central bank's benchmark level.

The central government has granted Hong Kong SAR a high degree of autonomy, but that doesn't mean that it has given up its authority, she said to a group of reporters before the weekly Executive Council meeting.

The central bank's move was to coordinate with the local government bond issuance, to prevent liquidity tightening when the bond sales rise in January, said Wen Bin, chief economist with China Minsheng Bank.

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The certificates are used mainly by smaller lenders－banks outside of China's top 10 by market value accounted for 76 percent of total NCD sales this year.

The central government provides some financial support to nursing homes and social welfare institutions in urban areas and nursing homes in rural areas, Ou said. With support of the central government, city governments and enterprises will join in to provide care for the elderly to expand the supply of such services, he said.

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The city aims to connect surrounding areas with countries and regions involved in the Belt and Road Initiative, and function as a free trade port and a pioneer in the marine economy, he noted.

The center organized expert evaluations in May and August last year. It forwarded the innovation voucher recipients to Tibet's Science and Technology Department for review, and the results were published on the department's website in November.