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As a result, the AMCM followed its Hong Kong counterpart to adjust the base rate, after the US Federal Reserve decided Wednesday to lower federal funds rate by 25 basis points.

As a report issued by the agency in 2017 shows, in 2015, Lithuania's imports exceeded exports more than seven times, with imports increasing by almost 9 percent to 725 million euro (6 million) and exports growing by 0.2 percent to 102 million euro. In 2016, the volume of imports declined by 2 percent to 708 million euro, and total exports grew by 20 percent to 123 million euro, sending the imports to an amount six times that of the exports.

As both general trade and processing trade－China's two main types of trade－have been hit hard, enhanced efforts need to be made to develop cross-border e-commerce, he said.

As high as 60.3 percent of payments made via Alibaba's T-mall and Taobao during the recent Singles' Day shopping frenzy were verified by users scanning their fingerprints or faces instead of entering passwords, according to the e-commerce giant.

As a result, a slew of major commercial property landlords have announced rent cuts or reliefs. A survey conducted by the Guangdong Restaurant Association showed that 69.64 percent of the restaurants were not in operation between Jan 18 and Jan 31. The rest who continued doing business reported their revenue more than halved compared to the same period of last year. And 30 percent of them reported almost nil revenue.