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Beside the recent rate adjustments, the second phase of the scheduled targeted reserve requirement ratio (RRR) cut for some city commercial banks announced on Sept 6 became effective on Friday, injecting another 40 billion yuan of liquidity into the system, according to the PBOC.

Besides, China ought to eliminate discrimination towards the service sector, a remaining problem for a planned economy in the past, and reduce over-regulation of prices, he said.

Berkshire Hathaway Inc, the conglomerate run by billionaire Warren Buffett, on Saturday reported a 67 percent increase in quarterly operating profit, as insurance underwriting rebounded and several businesses benefited from a growing economy and improving demand.

Bezos is set to testify via video conference Wednesday in addition to Apple CEO Tim Cook, Google/Alphabet CEO Sundar Pichai, and Facebook CEO Mark Zuckerberg.

Besides forming or joining a private equity fund to invest in fintech, banks could also launch or cooperate with startup accelerators to develop a business layout of innovative companies in advance, he added.