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Cashalo has stepped up its physical presence in the Philippines from a couple of stores three months ago to 250 outlets at present, plus seven different department stores with some 850 staff. "We need our own staff to do sales, finance customers purchases, and teach them how to use the services," said Prentice.

Changan Automobile signed a deal to establish a joint venture with NextEV, not only in manufacturing, but also covering intelligent and new energy vehicle R&D, the supply chain and sales channels. The agreement followed JAC's 2016 deal to produce 50,000 of NextEV's upcoming volume models.

Chao Dairong spoke with Li Lei.

Capital, however, rate it as an ineffective move to salve investor sentiment and expect - as in the Philippines - health reasons to be invoked should other bourses shut.

Central bank officials said that the loan prime rate reform, which started in August 2019, has eliminated the banks' invisible floor of lending rates, which in this case is 90 percent of the one-year bench mark lending rate. The LPR has also helped in the liberalization of deposit rates, as banks have adjusted the lower deposit rates to match the falling lending rates, they said.