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The move should supplement liquidity in the financing system, while it doesn't mean monetary easing or massive economic stimulus, said a PBOC spokesman.

The momentum is building, and the timetable is set for a historic summit between the United States and the Democratic People's Republic of Korea, as Pyongyang released three US citizens on Wednesday, whom US President Donald Trump said he will greet early Thursday morning.

The move also shows that Trump has gained a better understanding of how important it is for both sides and the rest of the international community to ensure the world's most important bilateral ties remain stable and even grow after a meeting between him and his Chinese counterpart, Xi Jinping, last week in the US seaside resort of Mar-a-Lago.

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The move came before the opening of the 2020 Wuhan Global Capital Conference for High-Quality Development. The forum will kick off on Sept 28 in Wuhan and bring over 100 renowned experts, scholars and leading venture capitalists from both home and abroad.

The monetary policy response as a result of the growth shock has included liquidity injections, targeted cuts to banks' reserve requirement ratios, reductions in the policy rate, such as the medium-term lending facility interest rate, and measured financial sector regulatory forbearance, Fennell said.

The moves follow a number of high-profile accidents, the latest of which occurred on Sept 22, when seven people - five production line workers, a doorkeeper and a manager - were killed in an explosion at a factory owned by Fenglin Fireworks Export in Pingxiang, Jiangxi province.

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The move comes amid a surge in the number of Chinese tourists to Japan and is part of the Beijing-based company's broader push to export its artificial intelligence technology.

The models found that the negative effects outweighed the positive: "Lower US imports and gains in market shares by US producers in their home market are outweighed by lower exports."

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The municipal government said that these platforms will provide multi-channel services for overseas companies entering the Chinese market.

The move is part of broader efforts by Huawei to attract more third-party software developers to embrace its Huawei Mobile Service ecosystem. HMS is the foundation for Huawei to continue selling smart devices in overseas markets, after the US government restricted Huawei from using Google Mobile Service, Google's Android operating system and the Google Play app store on its mobile devices in May, 2019.