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The country should further advance the steady internationalization of the renminbi and keep its exchange rate basically stable, he added.

The country's Cyberspace Administration launched the crackdown on Friday to further regulate dissemination of information on the internet and clean the online environment.

The country will continue to stick to the principle that "houses are for living in, not speculation," said the People's Bank of China (PBOC), the central bank, in the report on the country's regional financial operation in 2019.

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The construction work will start in several months after a geological survey, and over 90 percent of workers will be hired locally as required by local regulations, Chang was quoted as saying by Xinhua News Agency.

The conclusion was evidenced by two insurance companies' reports.

The corporate logo of financial firm Morgan Stanley. [Photo/Agencies]

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The country vowed to ease restrictions on overseas banks' access to the securities investment fund custodian business and to further open up the futures market.

The construction costs for suspension railways are less than one fifth that of subways, according to Zhai."It is pollution-free and does not affect ground facilities."

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The country has taken measures to enhance support for those companies by further improving financing services and alleviating operational burdens.

The cost burden of the logistics industry was equivalent to 14.9 percent of GDP in 2016, down by 1.1 percentage points from the previous year and was the fourth consecutive annual downtrend, according the National Development and Reform Commission.