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China's central bank announced in August a plan to reform the LPR mechanism to better reflect market changes in its latest move to guide borrowing costs lower to support the real economy. [Photo/VCG]
China's central bank may take an alternative approach to maintain lower corporate borrowing costs instead of an immediate interest rate cut－following the US Federal Reserve's quarter-percentage-point cut on Wednesday－to support the domestic economy and ease downward pressure in the second half of the year, the country's policy advisers said.
China will promote the structural adjustment of State-owned economy by advancing mixed-ownership reform, and enhancing cooperation between State-owned enterprises and private companies during the period of the 14th Five-Year Plan (2021-25), officials said on Monday.
China will step up the protection of intellectual property rights and bring its business environment in line with market principles, the rule of law and international standards, he said.
China's Beijing, Shenzhen and Shanghai have the most self-made women billionaires on the list, while Hangzhou and Xiamen have broken into the first five spots, the list added.
