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PBOC said the cut, the third this year following reductions in January and April, was "targeted, precision regulation" and aimed to boost funding for small and micro firms as well as support debt-to-equity swap program. The rate cut will take effect on July 5.

Pang Chaoran, associate researcher with the Chinese Academy of International Trade and Economic Cooperation, said that the growth of China's actual use of foreign investment, which bucks the trends, benefited from the epidemic control in China, leading to a trend of increasingly good prospects in work resumption. On the other hand, growth profited from the rapid recovery of the country's economy, which makes foreign-invested enterprises put more emphasis on the Chinese market.

Participants shared views on China's reform and opening-up and global governance at the two-day forum, which ends Tuesday.

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Passengers will be able to transfer between the capital's new airport and the high-speed railway station via an underground stop on the new rail line.

Part of that preparation included translating Tamar Adler's book, An Everlasting Meal: Cooking with Economy and Grace, before publishing her own guide to cooking.

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PPC has a strong brand name in the Balkans and can play a leading role in developments in the energy sector in the area in the future, he added.

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Passengers are able to purchase tickets on Xiamen Air's website or at the airport counter, it said.

Passersby walk in front of the main branch of Standard Chartered in Hong Kong. The bank is one of the lenders in the city that hiked the renminbi term deposit interest rates on Thursday. [Photo/Agencies]