The Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group known as OPEC+, reached on Thursday a tentative agreement to cut production to stop a market free-fall amid the coronavirus pandemic.
The PMI for high-tech manufacturing, equipment manufacturing and consumer goods manufacturing stood at 52, 51.2 and 51.4, respectively, all above the general manufacturing PMI, showing rising strength of new sources of growth.
The PPP also affirmed its rejection to US sponsorship of the peace deal.
The New York Times has reported that about 297 million people in 38 states are under such guidelines, although some states have not yet announced any such measures.
The National Meteorological Center said that the dusty weather in northern China began on Monday and has affected an area of about 1.5 million square kilometers.
The PBOC said it also plans to strengthen financial support for the rental housing market and to better regulate internet-based financing. This year, it plans to further tighten regulation on shadow banking businesses and real estate financing, as part of its Macro Prudential Assessment framework, to ensure financial stability, according to the statement.
北京拇外翻定位
The PBOC injected 100 billion yuan (.29 billion) into the market through seven-day reverse repos at an interest rate of 2.4 percent, and 0 billion yuan into the market via the medium-term lending facility (MLF) on Monday to keep liquidity in the banking system at a reasonably sufficient level. The interest rate of the MLF was cut by 10 basis points to drive down the LPR.
The NDRC reportedly is considering a slew of new measure to boost spending on automobiles, home appliances and consumer electronics products. People close to the NDRC said it has sent a draft plan to encourage consumption in the three sectors, according to a report in the National Business Daily.
The NBS survey showed 78.9 percent of large and medium-sized enterprises had resumed work as of Feb 25, and the proportion should rise to 90.8 by the end of March, according to Zhao.
The National Development and Reform Commission wrote in guidelines released in January that China will grow into a global leader of smart cars by 2035. The mass production of intelligent cars is targeted for 2020.