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China will stop using the traditional benchmark lending rate for new loans starting next year, which is considered a milestone in the 25-year process of market-oriented interest rate liberalization reform. Economists expected a more flexible mechanism to reduce financing costs for companies and households.
China will forge ahead with all-around opening-up in the financial industry and create a fair environment for competition, ushering more global participants into banking, insurance, securities, asset management and other sectors, Vice-Premier Liu He said on Wednesday.
China's National People's Congress on Thursday strongly condemned the so-called "Hong Kong Autonomy Act" passed by the US Senate recently, calling it "a serious violation" of international law and basic norms of international relations.
China will roll out its reform of decoupling business licenses from operating permits on all 523 items concerning business operations subject to central government approval starting Dec 1 in pilot free trade zones nationwide.
China will contribute an additional 100 billion yuan (.49 billion) to the Silk Road Fund, Xi said in his keynote speech at the opening ceremony of the two-day Belt and Road Forum for International Cooperation in Beijing.
来源：资阳报