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The Office of the US Trade Representative said the proposed list of products subject to added tariffs is based on extensive interagency economic analysis and targets products that benefit from China's industrial plans while minimizing the impact on the US economy.

The Ministry of Finance is mulling further supportive policies beyond financial approaches, given that the subsidy scheme will end by 2021.

The OECD urged governments to use all policy tools at their disposal.

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The Ministry of Industry and Information Technology, China's top industry regulator, published a notice last Tuesday to expedite the roll out of 5G and encourage consumers to upgrade their smartphones into 5G-enabled devices. The notice is also motivating companies to create more high-quality 5G content.

The New York Times reports that Bloomberg has been doing more than just giving money. He went to Florida last week to stump for Democratic candidate for governor Andrew Gillum, and in New York on Tuesday he hosted a fundraiser for a Tennessee Democratic candidate.

The Ministry of Justice should also strengthen its coordination and supervision of the work in administrative adjudication, organize evaluations of the implementation of the circular, and provide timely suggestions, according to the circular.

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The PBOC announced last week the introduction of a "counter-cyclical adjustment factor" to calculate the renminbi exchange rate price quotation, by increasing the weighting of macroeconomic fundamentals.

The NBS statistician also highlighted the strong performance of state owned major industrial companies whose profit surged 34.2 percent in July year on year. In June, their profit increased 20.7 percent, the NBS said.

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The Northwestern Polytechnical University (NPU) in Xi'an, Shaanxi province issues China's first letter of acceptance using Augmented Reality (AR) technology to students on July 4. [Photo/VCG]

The NDB was set up with an initial authorized capital of 0 billion after leaders of Brazil, Russia, India, China, and South Africa agreed on its establishment during the 6th BRICS Summit in Fortaleza, Brazil, in 2014. It officially opened in Shanghai in 2015.