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But it doesn't rule out rate cuts in the near term, said experts. The LPR is updated on the 20th of each month. This new regime allows the central bank to change monetary policy more frequently, and to respond quickly to counter economic downside risks if necessary.

But George did take one opportunity?to gently gloat about Amazon’s clear lead in the category. It happened when Chandra was describing how ubiquitous virtual assistants will be in the future.

But developing chips is a high-tech and cash-intensive business. When Xiaomi was considering chip business, several experts had told Lei that it is a risky business. R&D of chips alone would require 1 billion yuan (2 million) and making a success of it would require at least billion.

But additional liquidity will be good for stocks, he said. "Therefore, we are bullish on the performance of the A-share market in the coming months."

But chances are that Porsche will hit the target because, unlike BMW and Mercedes-Benz, all of its models are made in Germany and stand to benefit from the tariff cut.