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China's central bank has determined it will cut the one-year interest rate of the medium-term lending facility (MLF) to 2.95 percent, down from 3.15 percent, a statement said on Wednesday.
China will raise its defense budget by 8.1 percent in 2018, according to a budget report to be submitted to the national legislature Monday, up from last year's 7 percent.
China's central bank governor Yi Gang arrives for the EU-China High-level Economic Dialogue at Diaoyutai State Guesthouse in Beijing, June 25, 2018. [Photo/Agencies]
China will move faster to put in place a housing system that ensures supply through multiple sources, provides housing support through multiple channels, and encourages both housing purchase and renting in 2018, said the statement of the annual Central Economic Work Conference.
China's bond market surpassed that of Japan in June this year to become the world's second-largest, following that of the United States. Despite its size, foreign participation stands at about 2 percent, due to restrictions on foreign investors' access.
