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As the Covid-19 death count rises amid a massive resurgence of the virus that again threatens the economy, Republican and Democratic legislators finally hammered out the plan late Sunday after months of wrangling and bitter debate over what to include.

As the treasury bonds issued in 2007 will mature on Aug 29, the MOF will issue another 600 billion yuan to banks, including 400 billion yuan of seven-year bonds and 200 billion yuan of 10-year bonds, with market-based yields, the MOF said in a statement.

As the country's financial institutions implement inclusive finance to help win the battle against poverty in rural areas, such credit systems have extended to many areas in China. [Photo/IC]

As the Chinese yuan is not freely convertible under the capital account, the central bank has to purchase foreign currency generated by a trade surplus and foreign investment in the country, adding funds to the money market. Such funds are an important indicator of cross-border foreign capital flows and domestic yuan liquidity.

As restaurants and other service businesses have gradually started extending business hours to 2 o'clock in the morning or 24 hours a day, inconvenient traffic has restricted people's consumption.