Regulators, led by then Vice-Premier Zhu Rongji (who later became China's Premier), stopped banks from extending loans to Hainan's real estate sector to prevent larger risks. Consequently, local property prices tumbled, leading to mass bank loan defaults.
Residents of neighboring regions, including Beijing and Tianjin, received a warning about 30 seconds before the tremor arrived in those locations via their mobile phones or televisions with earthquake warning functions activated.
Related departments devised two monetary policy tools this year, in an effort to offer intensified, direct support to the real economy and help tide businesses over difficulties.
Rein believes that the likes of McDonald's and Yum can still experience solid growth in the years to come. He pointed out that chains like Starbucks prove that the maturing middle class in China will always seek out authentic Western dining experiences.
Residents of Qingdao, Shandong province, line up for COVID-19 tests on Tuesday. [Photo/Xinhua]
Rescuers evacuate passengers from a car in Chengdu, Sichuan province, Aug 16, 2020. The city has activated a level-four flood emergency response following heavy rains. Over 1,000 people have been evacuated after incessant rains. [Photo/chinanews.com]
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Regulations will also be released to encourage community health centers to provide beds to the elderly at home, so family doctors can provide treatment there, she said.
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Resideo said that they have responded to the needs of local customers by offering tailor-made solutions for smart control both inside and outside of homes.
Residents use an aerial cable bridge to cross the Jinsha River, a major tributary of the Yangtze River, in Butuo county, Sichuan province, on Friday. This is the last cable bridge in use across the river. A new bridge is expected to be put into use early next year. Zhang Zhi/For China Daily