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Because the LPR is refreshed on the 20th day of each month, the new interest rate mechanism will be more flexible, and over the long run, the LPR is likely to decrease, so financing costs may continually go down, said Zhang Xu, an analyst at Everbright Securities.

Before a packed room in the United Nations' Geneva Office, Chinese officials, experts and foreign diplomats shared their views on Wednesday about human rights progress in the Xinjiang Uygur autonomous region of China.

Beijing earlier this month set up a longer-term fair to sell over 2,000 products from poor counties in seven provincial regions. The fair will be open all year round.

Before construction of the greenway began at the end of 2015, the lake and its surrounding areas were not ideal for leisure. Li Jinjie, 46, a teacher at Wuhan University, which is near the lake, said: "I am a fan of long-distance running, but there were too many vehicles going too fast near the lake, and it was dangerous."

Beijing and Washington share "more common interests than disputes, and more need for cooperation than friction", Guo said.