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"China was working to improve flexibility of the RMB exchange rate while maintaining a stable equilibrium. And the RMB has successfully avoided competitive depreciation against other major currencies," he said.

"Currently, Chinese students attend online classes at home, and those with weak self-control are more likely to indulge in mobile phones and the internet," said Tang Zhisong, a professor with China's Southwest University.

"Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent," the statement said.

"Cross-border e-commerce can be an ideal way for foreign companies to debut in China thanks to easier access, lower costs and reduced time for market entrance," said Zhang Tianbing, Deloitte Asia-Pacific consumer products and retail industry leader.

"Coming on the heels of the central banks, there is increasing optimism that politicians are starting to understand the scale of the economic stop coming -our way as the death toll across Europe and the US continues to rise," Michael Hewson, chief market analyst at CMC Markets UK, said in a research note.