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To boost the real economy, the People's Bank of China (PBoC) announced last month that it will cut the reserve requirement ratio (RRR) by 0.5 percentage points for banks engaged in proportionate lending to the farming sector or small- and micro-sized enterprises.

His views were shared by Qian Feng, vice director of the Chinese-language newspaper Asian Daily in Thailand. "The two heads of state reached consensus on denuclearization of the Korean Peninsula, which laid a foundation for regional stability," he said.

The NDB, to be headquartered in Shanghai, will have an initial authorized capital of 100 billion U.S. dollars, and its initial subscribed capital of 50 billion dollars will be equally shared among founding members, according to the Fortaleza Declaration.

Zhang, who is in charge of policy making of the energy industry in China, said his attendance at the meeting of the Energy Cooperation Committee aimed to further implement the important consensus reached by the presidents of the two countries.

During the talks, Sun said China-Swiss relation has continued to develop positively over the years and the pragmatic cooperation in all sectors have yielded concrete achievements.