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As banks face lower costs of funds after the cut, they may lower the quotation rates for the formation of the loan prime rate - the newly introduced lending reference rate, lowering corporate borrowing costs and boosting earnings as a result, Zhang said in a report.

As for cross-border trading, Shenzhen Customs has initiated an "intelligent port" data platform and set up pilots using a one-stop model at inland ports.

As a result, by 2025, around 18 percent of mobile connections will be running on 5G networks. Meanwhile, 4G mobile technology will account for more than two-thirds of connections in Asia by 2025, increasing from 52 percent of that in 2018.

As excess capacity has weighed on China's overall economic performance, cutting overcapacity is high on the reform agenda. In 2016, China completed both its annual targets for coal and steel capacity reduction ahead of schedule.

As any donation over 10,000 yuan requires the real name and ID card, the donor has split each of his twenty contributions into sums of 9,999 yuan, just a bit below the threshold.