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Based on bank-calculated quotes made by adding a few basis points to the interest rate of open market operations (mainly referring to the MLF rate), the LPR is calculated by the NIFC to serve as the pricing reference for bank lending. Currently, the LPR consists of rates with two maturities -- one year and over five years.

Baidu Inc is planning to sell its loss-making food delivery unit, Baidu Waimai, at a discounted price to a competitor backed by Alibaba Group Holding Ltd, a person familiar with the matter said.

Barry said on Thursday in the capital city of Ouagadougou that Burkina Faso has broken off ties with Taiwan and will close its embassy in Taipei, Xinhua reported.

Based on the first-quarter economic data, which indicated a 6.8 percent contraction on a yearly basis, many policy advisers revised the GDP growth target for this year to 3 percent, compared with around 6 percent before the outbreak. The new target could be proposed to the annual meeting of the National People's Congress for discussion, said high-level sources familiar with the matter.

Baijiu is a type of Chinese white liquor, playing on the pronunciation of the numbers "eight" plus "nine". The flavor and aroma of baijiu though are different from Western drinks and the alcohol content of baijiu is much higher at 52 percent or above.