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London is expected to play a major role in the international convertibility of the yuan. It is the second busiest clearing center only to Hong Kong outside the Chinese mainland, replacing Singapore in 2016. London is by far the world's largest foreign exchange center, a position it has occupied since 1995.

Local officials said one assembly line in Majuqiao township of east Beijing's Tongzhou district began pilot-production Monday. With the help of the local government, it took less than half a month for the factory to attain a production license, purchase materials and recruit villagers nearby as sewing workers.

Logos of Ant Group and Alibaba are pictured at the headquarters of Ant Group, an affiliate of Alibaba, in Hangzhou, Zhejiang province, Oct 29, 2020. [Photo/Agencies]

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Local governments are urged to improve financial regulations with effective crackdowns on illegal financial activities.

Local authorities said that advanced technologies have been widely used to build a smart tea garden, resulting in lower human costs and an improvement in work efficiency. The village has also explored ways to combine tea growing and eco-friendly tourism.

Local authorities should not issue approval of export to enterprises that have not obtained approval to manufacture medical equipment, he said.

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Long Guoqiang, vice-president of the Development Research Center of the State Council, said that in terms of the production value chain, the US manufacturing sector not only accounts for the most profitable industries, but also is enjoying the highest added value and is actively allocating low-value-added segments overseas.

Local police are searching surrounding towns and villages to recover the corn, the Yanxi government said online on Monday. So far, around 100 corncobs have been returned, and there are no signs the corn is being sold, it said.

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Local governments had issued 1.57 trillion yuan of new bonds by April 15, accounting for 85 percent of the 1.85 trillion yuan early allocation of bond quota for 2020, the ministry reported. The full-year bond quota will be released by the annual meeting of the National People's Congress, which usually takes place at the beginning of March but has been postponed due to the outbreak. Economists predicted with the delivery of the 1 trillion yuan new quota, the issuance of local government special bonds will hit a record high in coming weeks.

Located at the southern foot of Wuzhou Mountain, some 16 kilometers west of Datong city, the Yungang Grottoes is one of the three famous Buddhist cave clusters in China.