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And foreign companies in Guangzhou have greatly contributed to the city's anti-epidemic work in the past weeks, he added.

An unidentified analyst with Haitong Securities told Securities Daily that there is a great possibility that China's largest coal miner Shenhua Group and energy producer China Guodian Corp will merge.

Analysts said that the stable LPR was in line with market expectations. The US Federal Reserve's rate cuts in December have eased pressure on the PBOC to adopt a similar move.

Anecdotal evidence suggests some employers are offering other perks to attract and retain workers such as flex schedules, working from home or increased health benefits.

And that closeness has helped create a home from home atmosphere for thousands of Chinese students heading to a city sitting in the foothills of the Pennines, the mountain chain known as the backbone of England.