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The central parity rate of yuan strengthened 298 basis points to 6.537 against the US dollar Tuesday, the strongest level since May 2016, according to the China Foreign Exchange Trade System.

The central bank also provides suggestions to such financial institutions on how to address their risks; it may suggest those institutions increase capital, reduce bad assets, lower leverage ratio, replace management or improve corporate governance, according to the report.

The civil affairs department later said the list was only a draft and was publicized to solicit public opinion.

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The city's manufacturing shift is emblematic of the broader trend in China as the "world's workshop" built upon low labor and production costs will be taking on new forms.

The chill in relations between the US and China over a range of issues such as trade, restrictions on Chinese telecom giant Huawei Technologies Co Ltd, visa difficulties and recent US measures supporting Hong Kong protesters likely gave some Chinese citizens pause about buying US products.

The chairman added that China Huarong would continue to consolidate its market-leading position to facilitate the exit of loss-making "zombie" companies and to support the debt-for-equity swaps of commercial banks.

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The central bank has increasingly relied on open market operations for liquidity management, rather than cuts in interest rates or reserve requirement ratios.

The charity's executives said the site was well-known as a depository for stolen pets before operators killed the animals and sold the meat.

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The central bank also said that it will increase the quotas of relending and rediscount to financial institutions by 150 billion yuan (.6 billion) to ensure that targeted loans can be channeled to private firms.

The change would also be a boost to Windows Phone’s attractiveness, since Android and iOS already have similar capabilities.