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China had a crayfish market worth around 268.5 billion yuan in 2017, up more than 83 percent year-on-year, according to a report by the bureau of fisheries under the Ministry of Agriculture and Rural Affairs.
China has been the world's largest market for new energy vehicles since 2015. However, sales in the market have suffered because of subsidy cuts and the coronavirus pandemic.
China has made huge strides in developing its agricultural sector. The country's total grain output increased from 113.18 million tonnes in 1949 to 657.89 million tonnes in 2018, which ensured China's food security.
China cut loan prime rate (LPR), a newly reformed interest rate to guide banks’ loan price, on Wednesday to lower corporate financing cost and stabilize economic growth amid rising headwinds.One-year LPR came in at 4.15 percent, down from 4.2 percent a month earlier, according to the National Interbank Funding Center. The above-five-year LPR stood at 4.8 percent, down from 4.85 percent a month earlier.The People's Bank of China, the central bank, announced in August 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 continues to enact structural reforms prudently, sustainably and consistently.