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China's central bank in August announced 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.

China's State-owned enterprises' (SOE) operating revenues increased 3.9 percent year-on-year during 2019's first two months, with profits up 15.3 percent compared with the same period last year, the country's top SOE regulator said on Saturday.

China's banking sector had deferred payments on 1.8 trillion yuan (8.1 billion) of loan principal and interest for a number of micro, small and medium-sized enterprises through measures including loan extension and renewal, said a spokesperson of the China Banking and Insurance Regulatory Commission on July 11.

China will implement measures to further boost domestic demand and deepen reform and opening-up this year, in an effort to deal with the rising uncertainties and disruptions from the COVID-19 outbreak, according to the country's top economic regulator.

China's GDP growth was 6.6 percent in 2018, dragged down by a fourth-quarter increase of just 6.4 percent. In the Government Work Report delivered on March 5 to the National People's Congress, the country's top legislature, Premier Li Keqiang set a target range of 6 to 6.5 percent to be achieved this year.