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Commercial lenders should increase lending to small- and micro-sized enterprises and reduce their financing costs. Unleashing their vitality will be a win-win outcome for both the real economy and the financial industry, and will contribute to the long-term sustainable growth of bank profits, the central bank said in the report.

Competing interests seen in battle between science, tourism

Communist Party USA National Chairman John Bachtell said that the CPC's proposal of building a community with a shared future for mankind seems to be a new level of peaceful coexistence of different systems, and could be a healthier and more globally democratic foreign policy.

Confidence of the surveyed manufacturers－around 500 private and State-owned manufacturers－brightened in May as the domestic economic order gradually normalized while some overseas economies started to partially resume work. The sub-gauge for future output expectations rebounded markedly to the same level as before the coronavirus outbreak, according to the report.

Compared with the RBA's previous quarterly outlook, the initial impact of COVID-19 was only slightly smaller than three months ago, with forecasts predicting a 6 percent contraction in the national economy for 2020.