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Local governments are encouraged to set up financing funds for private enterprises, and supportive tools for equity and bond financing for private firms will also be promoted, according to a statement released Friday after a work conference of the People's Bank of China (PBOC).

HONG KONG, Jan. 30 (Xinhua) -- The government of China's Hong Kong Special Administrative Region (HKSAR) is striving to complete the construction of the boundary control point at Liantang/Heung Yuen Wai connecting Hong Kong and Shenzhen this year, Secretary for Development of HKSAR government Michael Wong said on Wednesday.

Shadow banking has declined sharply, the level of local government debt is well within the official limit, and the leverage ratio of major industrial firms has dropped.

"To organize the Beijing 2022 Olympic Games successfully is one of the priorities for China. I hope everyone can promote a positive sporting spirit and the Olympic spirit, aim for our target and work hard," said Sun.

The Forbidden City has been decorated with large royal lanterns as a highlight of the museum's ongoing new year exhibition, aiming to give visitors a feel of what it was like to usher in the new year in the royal court some 200 years ago.