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"Extending the transitional period as appropriate will alleviate the blow of the epidemic on the asset management sector and the pressure on financial institutions from the revamping task," said a PBOC statement, adding that the move will also facilitate financing for the real economy.

"Economists nearly unanimously agree that tariffs have negative economic effects, and this has been observed time and time again when countries impose tariffs," said Erica York, an analyst with the Center for Federal Tax Policy at the US Tax Foundation, who wrote the report titled The Impact of Enacting President Trump's Tariffs. The foundation is an independent tax policy nonprofit.

"Fearless Girl" is seen on the street in front of the New York Stock Exchange in New York, the United States, on Dec 10, 2018. [Photo/Xinhua]

"European carmakers have done a terrific job in terms of gasoline vehicles, but we are leading in terms of new energy vehicles. That's why we are confident in our goal, although we are the visiting team," Zhao said.

"Education has enabled our employees to advance in their careers and we want to extend educational opportunities to young Kenyans transitioning from primary to secondary school. One of the pillars of Afristar is education and wherever the SGR passes, we have initiated life-touching programs. This scholarship is focusing on giving a lease of life to children from poor backgrounds to access education," Gachuhi said.