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"Despite being an ordinary farmer and living a hard-up life, He chose to give the treasures he discovered to the State without hesitation, which is admirable," said Shan Jixiang, the curator of the Palace Museum.

"Even China cannot immediately meet Germany's demand at that time, our explanation has won the trust and understanding of Germany," he said.

"Despite the drop, the balance of forex reserves remains above trillion," he said. "In an increasingly open economy like China's, the current fluctuations in forex reserves and the currency rate are well within the reasonable and affordable range."

"Due to the campaign against corruption in recent years, a new problem occurs that many cadres begin to feel pressure that some do not dare to take responsibility and do practical things, which is also a dereliction of duty," he said.

"Despite the loosening measures, China is not turning to an overall loose monetary stance," said Shen Jianguang, chief economist at JD Finance. Instead, the central bank focuses on targeted tools, Shen added, describing the TMLF as a "targeted interest rate cut".