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Becoming a K-pop star for a day with Airbnb

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/travel/30375034

Becoming a K-pop star for a day with Airbnb

Aug 20. 2019
(Airbnb photo)

(Airbnb photo)
By Im Eun-byel
The Korea Herald/Asia News Network

116 Viewed

As Korean culture gains popularity around the world, Airbnb has launched a new K-wave Trip section — a chance for tourists to take part in K-pop or K-beauty activities.

The global house-sharing platform held a press event Friday in the Itaewon area of central Seoul, inviting reporters to a class on how to make a vegan bath scrub, registered as a K-beauty trip under Airbnb.

“On Airbnb, we have always seen the want for local, authentic experiences. As the K-wave has proved itself to be more than a passing trend, we have launched the K-wave Trip section,” Hong Jong-hee, who is in charge of public relations, said at the event.

According to the press release, Airbnb is focusing on the rapidly developing Hallyu trend, which has seen K-pop musicians topping the Billboard charts and participating in global music festivals, and Korean beauty brands leading makeup trends in the international market.

“We always promote the idea of living like a local. But to live like a local, there has to be more than just staying at locals’ homes. We have to meet the locals and engage in what they are interested in,” Hong said. “Airbnb Trips have been growing at a fast rate, compared with the growth of the house-sharing service.

(Airbnb photo)

(Airbnb photo)

“When a host applies to host a trip, we evaluate the request based on three criteria: the host’s expertise, the uniqueness of the place and how much participants can get involved in the activity,” Hong said. “Only 50 percent of trips pass the evaluation and make the list.”

The K-pop Trip list currently has around 30 activities, including K-pop dancing and recording classes. Some of the classes even allow participants to create and keep music video clips of themselves.

K-beauty activities are available too, from makeup classes to vegan beauty product making classes. There are currently nine classes listed under the K-beauty category.

To find out more about K-wave activities, check Airbnb’s website and mobile app.

By Im Eun-byel (silverstar@heraldcorp.com)

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Domestic M&As to offer better prospects, says PwC

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/news/30375032

Domestic M&As to offer better prospects, says PwC

Aug 20. 2019
A bird view of Beijing's central business district. [Photo/VCG]

A bird view of Beijing’s central business district. [Photo/VCG]
By China Daily
Asia News Network

45 Viewed

PwC forecast that domestic strategic mergers and acquisitions may become a relatively bright spot for China, as the country is focused on stimulating its economy, while soft M&A activity will extend to the second half of 2019 if uncertainties remain unclear.

The value of M&A deals made by domestic strategic buyers increased by 8 percent from $131.3 billion in the second half of 2018 to $142.3 billion in the first half of 2019, mitigating sharp falls in outbound and private equity (PE) deals to a certain extent. The volume of domestic strategic M&As also rose 12 percent over the same period, said PwC, a world leading accounting, auditing and assurance firm, in a report issued on Monday.

“With outbound opportunities limited and the US-China trade dispute in play, China’s renewed focus on its domestic economy drove an increase of domestic strategic M&As both in deal value and volume,” said George Lu, PwC’s outbound deals leader for the Chinese mainland and Hong Kong. “We saw a number of large transactions and reorganization in the industrials sector during the last six months. Besides, the consumer, high technology and healthcare sectors were quite active.”

Other drivers of domestic strategic M&As also include the continued deepening of reform of State-owned enterprises, deleveraging and debt restructuring, and further restructuring of domestic banks, he added.

According to the report, the value of China’s M&As dropped to $264.4 billion in the first half of 2019, down by 18 percent from the second half of 2018. Among the total, the Chinese mainland outbound deal value declined from $51.6 billion to $26.8 billion, and PE deal value fell from $130.1 billion to $86.8 billion.

Although outbound M&As almost halved in value due to political and economic uncertainties, in addition to tightened scrutiny of foreign investments by the United States and the European Union, there was still a reasonable deal flow for small-and medium-sized transactions.

Over the same period, the number of outbound mega-deals whose value exceeded $1 billion for each transaction dropped from 13 to four, showing an increasing level of prudence for investors in large transactions, especially those concerning politically sensitive industries. That was partly offset by an increase in the number of mega-deals made by domestic strategic players from 18 to 28.

“The internal driver behind China’s outbound investments is the globalization of its economy and large enterprises. But due to huge uncertainties, it is quite normal to see such investments receding temporarily,” said Lu.

“If economic uncertainties decline for the US and Europe next year, these countries may increase market openness, and the probability for a rebound in China’s M&A may be higher,” he said.

The report noted that consumer, industrials and high technology-related investment activities were the most popular for financial buyers, accounting for more than half of the deal value of private equity fund investments in the first half of this year. Some PE firms specializing in healthcare, 5G network technology, and high-tech investment have also emerged.

Facebook, Twitter remove China accounts for ‘misinformation’ about HK protests

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/news/30375033

Facebook, Twitter remove China accounts for ‘misinformation’ about HK protests

Aug 20. 2019
By The Nation

37 Viewed

Twitter and Facebook are removing accounts from China they deemed to contain posts with misinformation intended to undermine the pro-democracy protestors in Hong Kong .

“We are disclosing a significant state-backed information operation focused on the situation in Hong Kong, specifically the protest movement and their calls for political change,” Twitter announced on its blog on Tuesday.

It said the 936 accounts originated from within the People’s Republic of China (PRC). Overall, they were deliberately and specifically attempting to sow political discord in Hong Kong, including undermining the legitimacy and political positions of the protest movement on the ground, said the social-media site.

“Based on our intensive investigations, we have reliable evidence to support that this is a coordinated state-backed operation. Specifically, we identified large clusters of accounts behaving in a coordinated manner to amplify messages related to the Hong Kong protests,” Twitter said.

As Twitter is blocked in the PRC, many of the accounts were accessing Twitter using virtual private networks (VPNs).

However, some accounts were accessing Twitter from specific unblocked IP addresses originating on the mainland.

“The accounts we are sharing today represent the most active portions of this campaign; a larger, spammy network of approximately 200,000 accounts – many created following our initial suspensions – were proactively suspended before they were substantially active on the service.”

The accounts were suspended for a range of violations under Twitter’s manipulation polices – spamming, coordinated activity, fake accounts, attributed activity and ban evasion.

Facebook also removed posts for allegedly containing false information in order to mislead people about the Hong Kong pro-democracy protestors.Facebook said that today (August 20), it removed seven “Pages”, three “Groups” and five Facebook accounts involved in coordinated inauthentic behaviour as part of a small network that originated in China and focused on Hong Kong.

About 15,500 accounts followed one or more of these Pages, and some 2,200 accounts joined at least one of these Groups, according to Facebook.

“The individuals behind this campaign engaged in a number of deceptive tactics, including the use of fake accounts – some of which had been already disabled by our automated systems – to manage Pages posing as news organisations, post in Groups, disseminate their content, and also drive people to off-platform news sites,” said the social-media giant.

“They frequently posted about local political news and issues, including topics like the ongoing protests in Hong Kong. Although the people behind this activity attempted to conceal their identities, our investigation found links to individuals associated with the Chinese government.”

China’s new digital currency to launch in near future

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/news/30375031

China’s new digital currency to launch in near future

Aug 20. 2019
By China Daily
Asia News Network

50 Viewed

Multiple approaches are being tested for the launch of the first central bank digital currency in China, said officials and experts, who expect more participation from private institutions in creating the government-backed currency.

The time is almost ripe for introducing the central bank digital currency (CBDC), based on ongoing trials in some areas. But Facebook’s unveiling of its digital currency “Libra” may drive Chinese regulators to reconsider the possible model of CBDC, said experts close to the central bank on Monday.

The People’s Bank of China, the central bank, is almost ready to launch its own digital currency after five years of research, Mu Changchun, deputy director of the central bank’s payments department, said a week ago at a forum. He said the central bank started system development work in 2018.

Experts predicted that if things go well, the Chinese government-backed digital currency may come out earlier than the official launch of Libra.

The PBOC’s original plan might have been influenced by Libra-the digital currency plan raised by the world’s largest social network in June. It sparked discussions among Chinese financial regulators, driving the designer to rethink various models which can involve more non-governmental institutions in the CBDC development and issuance process, Yang Dong, director of the Research Center of Finance Technology and Cyber Security at Renmin University of China, told China Daily.

“Further testing is needed before officially launching the Chinese CBDC, gaining inspiration from the Libra,” said Yang.

The next pilots should focus on the non-governmental and cross-border scenarios of using the CBDC. Multiple players, including private and State-owned companies, can join the process together with the central bank,” added Yang, who refused to disclose the specific names of companies involved in the pilots.

Shao Fujun, chairman of China UnionPay and a former PBOC official, said that the potential forms and plans for the CBDC are varied, which are still under discussion. “It will have lots of positive impacts,” he said, “including tracking the money flow in economic activities and supporting making monetary policy.”

But it is also facing difficulties, such as international coordination in monetary and exchange rate policy, according to Shao.

“Where we are now is just like in a horserace, when several designated institutions are taking different technical routes for developing the digital currency and electronic payment. The winner will be the one who has the best approach, accepted by the public and the market. So that is a process of market competition,” said Mu, who highlighted the digital asset must be put under central bank oversight.

Libra, as described by a Facebook white paper, will be “fully backed by a reserve of real assets”. It also plans to have a global network, with 27 companies and entities as the founders, including the world’s long-standing payment giants Visa and Mastercard. The network aims to ultimately include 100 members by the scheduled launch in 2020.

The Chinese CBDC will be controlled by the central bank, and residents will be able to exchange the digital currency in commercial institutions. The CBDC is also 100 percent backed by the reserves that commercial institutions pay to the central bank, according to the PBOC official.

To some extent, Libra’s organizational structure is quite similar as the structure designed by the PBOC for its digital currency and electronic payment system, said Mu.

In a work plan for the second half of this year, the PBOC said it would expedite the research of China’s legal digital tender and monitor the trends of virtual currency development both overseas and at home.

 

476,000 show up at HK park to back police

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/news/30374960

476,000 show up at HK park to back police

Aug 19. 2019
Crowds rally in support of the Hong Kong police at the city's Tamar Park on Aug 17, 2019. More than 476,000 people reportedly participated. (PHOTO / CHINA DAILY)

Crowds rally in support of the Hong Kong police at the city’s Tamar Park on Aug 17, 2019. More than 476,000 people reportedly participated. (PHOTO / CHINA DAILY)
By China Daily
Asia News Network

277 Viewed

Nearly half a million people gathered at Tamar Park in Hong Kong on Saturday afternoon, sending out a loud call for an end to the violence and radicalism that has clouded the city since mid-June.

Braving light rain, 476,000 people demanded an end to all violence and the desecration of national flags and emblems, as well as a halt to attacks on police stations and public facilities.

The participants chanted slogans while waving placards, banners and the flags of the nation and Hong Kong Special Administrative Region.

The city was fed up with the endless illegal marches, they said.

The rally was held after a tough week for the people of Hong Kong, with the city’s aviation hub – Hong Kong International Airport – forced to cancel about 1,000 flights on Monday and Tuesday. In addition, a mainland tourist and reporter were assaulted by black-clad radicals at the airport on Tuesday night.

“Hong Kong was built up by Chinese people, not the British. And the young people here are throwing all of that away. I’m disgusted by it,” said Erich Beck, a retired Australian who has lived in Hong Kong for 28 years. has lived in Hong Kong for 28 years

Beck believes overseas elements are at play in the recent violent protests that have rocked the city, with the intent to “poison Hong Kong” in order to hurt China. He joined hundreds of thousands of local residents in an anti-violence rally on Hong Kong Island on Saturday afternoon.

Beck called on the city’s young people to think rationally about their behavior.

“How are you going to make the city better if it has all been thrown away?” he said.

The rally started at 5 pm, when people from all walks of life took the stage to share their thoughts and common wishes. They included people from the education and legal sectors, the entertainment industry and the business sector.

Tam Yiu-chung, a Hong Kong member of the National People’s Congress Standing Committee, called on the participants to salute the Hong Kong police who have been fearlessly maintaining social order. His appeal drew a loud cheer of approval from the crowd.

Tam also warned those who desecrated the national flag “not to be enemies of 1.4 billion Chinese people”. The flag and national emblem represent the dignity of the country and cannot be undermined, he said.

Maria Tam Wai-chu, deputy director of the Hong Kong SAR Basic Law Committee of the Standing Committee of the National People’s Congress, said things that damage the overall public interest are not negotiable. For example, it’s not acceptable for protesters to demand blanket amnesty for those arrested in connection with violence, she said.

The rally ended peacefully at around 6 pm.

On Sunday, anti-government protesters held a rally that moved from a packed park to a major road amid heavy rain. The HKSAR government expressed regret over the rally, at which slogans targeted the police.

Although the rally was generally peaceful, participants occupied several major roads of Hong Kong Island, severely affecting transportation and causing inconvenience to the public, a spokesperson for the government said.

The city’s priority is restoring social order as soon as possible, the spokesperson said, adding that the government and members of the public will talk to restore social harmony after order returns.

Taxi driver Tso Tag-ming said he felt helpless about Sunday’s situation. Blocking the main roads made it difficult to anywhere on Hong Kong Island, he said. His income yesterday was one-third of what it used to be, he said.

 

On Saturday, a spokesman for the country’s top legislature said recent statements made by US politicians violated the spirit of the rule of law and interfered with China’s internal affairs.

You Wenze, a spokesman for the Foreign Affairs Committee of the National People’s Congress, said some US politicians have glorified violent crimes in Hong Kong as protests for human rights and freedom, while smearing as violent suppression Hong Kong police efforts at law enforcement and maintaining social order.

Overseas Chinese and students call for end to violence in China’s Hong Kong

Published August 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/news/30374939

Overseas Chinese and students call for end to violence in China’s Hong Kong

Aug 18. 2019
Overseas Chinese communities in the Greater Toronto Area hold a peaceful rally calling for an end to the violence that has gripped China's Hong Kong Special Administrative Region in recent weeks, Aug 11, 2019. [Photo/VCG]

Overseas Chinese communities in the Greater Toronto Area hold a peaceful rally calling for an end to the violence that has gripped China’s Hong Kong Special Administrative Region in recent weeks, Aug 11, 2019. [Photo/VCG]
By China Daily
Asia News Network

637 Viewed

Overseas Chinese in Europe have rallied against the recent violence in Hong Kong. In London, hundreds of people gathered on Trafalgar Square during the weekend, protesting against the ongoing Hong Kong unrest. In Paris, and German cities of Berlin, Cologne, and Hamburg, overseas Chinese have also held peaceful rallies against the violence.

Overseas Chinese and students in Britain sang the Chinese national anthem and chanted “no violence” and “one nation, one China”.

The rally was organized after overseas students learned that some Hong Kong independence activists were planning a rally, an overseas student said.

He said they came here to express their support of Hong Kong and Hong Kong police and their objection to separatists.

SYDNEY – Around 3,000 people marched peacefully through the streets of Sydney on Saturday to call for an end to the violence which has gripped China’s Hong Kong Special Administrative Region (SAR) in recent weeks.

Mobilized through social media, the Stop Riots in Hong Kong rally was predominantly made up of Chinese students living Down Under. However, there was also a large number of local supporters in attendance as well.

Radical protesters in Hong Kong have abandoned their peaceful protests and unfortunately some of them have turned into violent mobs who smashed the parliament, ransacked the police stations and threw bricks and petrol bombs on the streets, Tony Jiang said.

“We support and we understand peaceful protest, but we believe it has grown into an out-of-control situation.”

To show their solidarity with law enforcement officers in Hong Kong, many at Saturday’s rally held up signs with messages of support for police.

Around 1,000 people from overseas Chinese communities in the Greater Toronto Area on last Sunday held a peaceful rally protesting against the violence that has gripped China’s Hong Kong Special Administrative Region.

Among banners that said “Protect Hong Kong, fight against violence,” One of the group’s leader Tony Jiang, who is an Australia citizen of Chinese descent, told Xinhua “We came here to stand against the violent riots and the decaying law and order in Hong Kong.”

US tariffs seen to push up prices, reduce profits

Published August 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/news/30374937

US tariffs seen to push up prices, reduce profits

Aug 18. 2019
n this Aug 20, 2015 photo, a Ford Motor assembly worker works on a Ford Mustang vehicle at the Ford Motor Flat Rock Assembly Plant in Flat Rock, Michigan. (PHOTO / AGENCIES)

n this Aug 20, 2015 photo, a Ford Motor assembly worker works on a Ford Mustang vehicle at the Ford Motor Flat Rock Assembly Plant in Flat Rock, Michigan. (PHOTO / AGENCIES)
By China Daily
Asia News Network

475 Viewed

WASHINGTON – The recent increases in US tariffs against imports are seen to be pushing up prices and reducing profits for American manufacturing and service firms, according to a report recently published by the Federal Reserve Bank of New York, according to Xinhua news agency reports.

 

“When asked how much, if at all, recent increases in tariffs have raised input costs-either directly or indirectly – 79 percent of manufacturers and 60 percent of service firms said at least slightly,” the New York Fed said Friday in a report based on supplemental questions to the August Empire State Manufacturing and Business Leaders Survey.

Around 14 percent of manufacturers and 12 percent of service firms characterized the increase as substantial, the report showed, noting “the data illustrate a considerably more widespread effect of higher input costs among service firms than in last year’s survey.”

Businesses were also asked how they saw changes in trade policy affecting the prices they pay, their selling prices, and other measures in 2019 and in 2020.

“For both years, roughly two-thirds of manufacturers saw an upward effect on prices paid, and roughly 45 percent saw an upward effect on selling prices,” the report said, adding among service-sector respondents, the numbers were somewhat lower but up noticeably from last year’s survey.

In assessing the overall effect of trade policies on their bottom lines, 51 percent of manufacturers perceive a negative effect in 2019 and 47 percent anticipate a negative effect in 2020, the report showed. “For service firms, the proportions are just under 40% for both years.”

The report offered fresh evidence that tariffs are hurting US manufacturing and service firms and the overall economy. Business groups have urged the US government to remove all additional tariffs to avoid higher costs to American families and businesses.

“Instead of picking temporary winners and losers and holding the U.S. economy hostage, it is time to reach an agreement that finally puts an end to the trade war,” Tariffs Hurt the Heartland, the national campaign supported by over 150 of America’s largest trade organizations, said recently in a statement.

HK govt regrets protesters’ targeting police

Published August 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/news/30374936

HK govt regrets protesters’ targeting police

Aug 18. 2019
A police officer attends to an injured colleague as hundreds of masked protesters, demonstrating against the government’s proposed bill to amend the city’s extradition law, attack police officers with iron barriers outside the Legislative Council building in Admiralty, Hong Kong, in the early hours of June 10, 2019. (PHOTO / CHINA DAILY)

A police officer attends to an injured colleague as hundreds of masked protesters, demonstrating against the government’s proposed bill to amend the city’s extradition law, attack police officers with iron barriers outside the Legislative Council building in Admiralty, Hong Kong, in the early hours of June 10, 2019. (PHOTO / CHINA DAILY)
By China Daily Hong Kong
Asia News Network

570 Viewed

HONG KONG – A spokesman for the Hong Kong Special Administrative Region government expressed regret over a public meeting Sunday by an organization that targeted police in its slogan.

Citing a major drop in city’s crime rate and favorable public opinion on police service, the spokesperson pointed out in a statement that protesters repeatedly charged police cordon lines, attacked police officers with offensive weapons and threw bricks and petrol bombs after processions and meetings in the last two months.

Police stations were attacked or besieged for over 75 times. But police had been handling the illegal acts with tolerance, added the spokesperson.

“Only when they were violently attacked and left with no choice did the police use minimum force to disperse protesters in order to restore social order,” reads the statement.

So far, about 180 police officers had been attacked by violent protesters and got injured.

 

“Police officers have been under tremendous work pressure and have always carried out their duties for long hours. Their family members are also under different degrees of intimidation and bullying. Their living quarters were severely vandalized and women and children residing there were frightened and disturbed.”

“During this difficult time, police officers are still discharging their duties fearlessly and with dedication to maintain law and order,” adds the statement.

 

The spokesperson reiterated that the HKSAR government fully supports police in strictly enforcing the law and deeply appreciates police officers’ efforts in restoring public order and peace, protecting the lives and properties of members of the public and bringing violent protesters who have violated the law to justice.

The government highly respected the public’s right of peaceful assembly and freedom of speech, added the spokesperson.

He appealed to those participating in public meetings and processions to express their views in a peaceful and rational manner and say “no” to violence so that Hong Kong can resume order as soon as possible, return to rationality and regain momentum.

Bhutan’s king welcomes Japanese royal family

Published August 18, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/news/30374920

Bhutan’s king welcomes Japanese royal family

Aug 17. 2019
By The Nation

754 Viewed

The King of Bhutan, Jigme Khesar Namgyel Wangchuck, has uploaded posts on his Facebook page that Japan’s crown prince Akishino, crown princess Kiko and their 12-year-old son Prince Hisahito have arrived in Bhutan on a 10-day private visit. They will have an audience with the King in the country’s capital Thimphu on Monday, according to the Japanese Imperial Household Agency, and visit monasteries and places of cultural importance to Bhutan.

The three royals arrived in the South Asian country via Thailand, receiving a welcome from members of the Bhutanese royal family at Paro airport, according to Kyodo News.

PBOC unveils rate reform to cut financing costs

Published August 18, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/news/30374916

PBOC unveils rate reform to cut financing costs

Aug 17. 2019
This Sept 28, 2018 photo shows the headquarters of the People's Bank of China, the central bank in Beijing. (PHOTO / VCG)

This Sept 28, 2018 photo shows the headquarters of the People’s Bank of China, the central bank in Beijing. (PHOTO / VCG)
By China Dail
Asia News Network

560 Viewed

China’s central bank Saturday unveiled a plan to improve and reform the country’s loan prime rate (LPR) mechanism in its latest efforts to cut financing costs for the real economy, according to Xinhua agency reported.

Introduced in 2013 and disclosed every trading day, the LPR functions as a market-based reference for lenders to set their loan interest rates.

Starting from Aug 20, the National Interbank Funding Center will disclose the new LPR at 9:30 am on the 20th day of each month, according to a statement by the People’s Bank of China (PBOC).

The number of quotation banks will be expanded from 10 to 18, including not just national banks but also urban commercial banks, rural commercial banks, foreign-invested banks and private banks, to improve the representativeness of the LPR.

An above-five-year LPR will be available in addition to the current one-year LPR to serve as pricing references for new bank lending, according to the PBOC.

Banks should take the LPR as the major lending rate reference when issuing loans, according to the statement.

The PBOC plan came after the country’s State Council decided Friday to take market-oriented reform measures to reduce real interest rates and ease financing difficulties.

The current LPR scheme has reduced the support effectiveness for the real economy by the lowering of market interest rate, and the above steps are expected to help improve the transmission efficiency of market interest rates, the PBOC said in another statement.

To ensure that the new plan is well implemented, enterprises can report banks’ practices of setting an implicit interest rate floor to market regulators and self-disciplinary industrial bodies.

The central bank also included the implementation of the new LPR scheme and loan interest rate competition behaviors in the macro-prudential assessment of banks to urge market players to follow the new LPR rules.

Efforts will be made to make lending rates and fees more open and transparent. Charges by financial institutions will be strictly regulated and intermediate agencies will be urged to cut fees, according to the PBOC.

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