The monetary policy transmission mechanisms will be further smoothed out while the proportion of direct financing will be increased to make financing more accessible and affordable for the private sector and small businesses, according to a statement issued after the meeting.
The move came shortly after a Chinese court ordered Samsung's Chinese subsidiaries to pay 80 million yuan (.6 million) to Huawei for patent infringement.
The move echoes President Xi Jinping's concept of a "people's city", which was raised during his visit to Shanghai last year. The president called for the building of a smooth channel for the public to express opinions.
The move follows a measure rolled out in March to cut the value-added tax for the manufacturing sector from 16 percent to 13 percent, and the VAT for the transportation and construction sectors from 10 percent to 9 percent.
The nation's top financial regulator has suggested that local governments encourage bitcoin miners to gradually reduce production of the cryptocurrency until finally quitting the business, a signal of an upgraded campaign to crack down on financial risks arising in the fast-developing fintech sector.
The narrower measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 11.8 percent year-on-year to 54.38 trillion yuan at the end of December. The growth rate was 9.6 percentage points down from one year ago.
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The moves can increase the sources of funds for financial institutions to support the real economy and reduce the annual capital cost of banks by about 15 billion yuan, according to the central bank.
The most important part about globalization, according to Ma, is "how we can make it more inclusive by supporting young people, supporting developing countries and supporting small businesses."
The monetary authority is likely to increase the supply of long-term and reasonably priced funding for financial institutions, and further cuts of the reserve requirement ratio would fit this goal, Goldman Sachs said in a research note.
The move will take the number of charging stations cross the capital to 100, said Lian Xingye, deputy general manager of Beijing Junma Passenger Transport Co.