The city put itself on the map in the 19th century as China's financial center. Banks flourished as Shanxi merchants expanded their businesses across the country and abroad.
The central government also issued the 13th Five-Year Plan (2016-20) of Northeast China Revitalization in 2016, vowing to revive the economy and cultivate new economic engines in the region.
The city has provided free treatment to all who tested positive and showed symptoms, with 126 patients receiving treatment at 11 hospitals in Lanzhou, the city's health commission said.
The charcoal-grilled Australian skirt steak is served with spicy and sour fried rice, sauteed onions and pepper.[Photo provided to China Daily]
The change, as the PBOC explained, could indicate that financial institutions are gradually adopting the new rules on asset management products, the most influential policy to crack down on shadow banking, which was issued in April 2018.
The city, home to Alibaba's headquarters, saw industrial output of the core industries of its digital economy grow by 15.5 percent year on year to 175.6 billion yuan (about billion) in the first half of 2019, accounting for one fourth of its gross domestic product.
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The circular required local authorities to give full play to the advantages of new business forms in foreign trade and expand imports based on local conditions to win the battle against the epidemic.
The central government collected about 3.47 trillion yuan in fiscal revenue during the period, up 4.3 percent year on year, while local governments saw fiscal revenue rise 6.1 percent to around 3.8 trillion yuan, according to statistics from the Ministry of Finance (MOF).
The city's comeback won't be easy. A report by the city's Independent Budget Office estimates the Big Apple will lose 475,000 jobs over the next 12 months. It predicts the city won't begin to add jobs again until the second quarter of next year.
The central bank is likely to increase the use of such structural tools rather than flooding the economy with liquidity in order to improve the efficiency of the monetary policy transmission mechanism. The measures can also provide credit directly to the real economy, said Yan Se, chief economist at Founder Securities.