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The central bank pledged a "patient and flexible" approach to future policy tightening moves, as a way to "manage risks while assessing incoming information bearing on the economic outlook," according to its latest meeting minutes released on Wednesday.

The citywide disruption has triggered condemnation from community groups. The city's biggest political party in the legislature joined the condemnation. Gary Chan Hak-kan, vice-chairman of the Democratic Alliance for the Betterment and Progress of Hong Kong, said the strike has blocked the city's main roads and disrupted subway trains, depriving citizens their rights to commute.

The city of Philadelphia. (Flickr Photo / Dave Rosenblum)

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The central bank meeting on Wednesday, chaired by PBOC Governor Yi Gang, stressed that "stabilizing expectations" was among the authority's priority tasks. In addition, monetary policy should focus on extending credit and innovating new tools, said a statement on its website.

The center warned local authorities to reduce outdoor activities and take precautions against strong winds, flooding and geological disasters.

The city's tally of novel coronavirus infections remains at 1,025 as of Monday.

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The change in ownership will not impact Honor's development direction or the stability of its executive and talent teams, allowing the company to continuously consolidate its foundation for success, the joint statement said.

The central bank will raise the capacity and willingness of financial institutions to serve the real economy to create a moderate financial environment for supply-side structural reform and high-quality development, according to the central bank's second-quarter report.

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The city government said the leak has been classified as a manufacturing safety incident, and further investigations are underway. 

The central government's efforts to cool down local government debt growth with a six-month clampdown on illegal joint fundraising activities by the public and private sectors have delivered results. [Photo/VCG]