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The Hongqi E-HS3, a pure electric sport utility vehicle model, is priced between 225,800 yuan (,000) to 265,800 yuan, said the carmaker.

The German Federal Government also welcomed the announced tariff reduction, saying it brings "quite a lot of benefits for our auto industry."

The IMF claimed that banks often compensate investors for losses on financial products to preserve their reputations. It said the Chinese government has repeatedly intervened to stabilize financial markets and investors have come to believe that state-owned enterprises will be bailed out if they get into trouble.

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The IDC FutureScapes 2020 discusses China's information and communication technology sector in Beijing on Dec 10. [Photo provided to chinadaily.com.cn]

The Guardian newspaper, meanwhile, said some managing directors at the company's offices in the City of London were being fitted for suits costing at least 1,200 pounds (,500) on the very day Deutsche Bank said it was laying off 18,000 workers.The paper said tailors from elite company Fielding & Nicholson were photographed walking out of the bank's main London office with suit bags on Monday.

The Guangdong civil affairs department has opened 3,777 emergency shelters to help people needing refuge in severe weather, and relocated 100,000 people from disaster-prone areas.

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The Federal Reserve had raised rates nine times since December 2015. But in 2019, it cut interest rates by one-quarter point in July, September and October amid slower US growth and fears of a global economic slowdown.

The Hong Kong-Zhuhai-Macao Bridge includes a 6.7 km tunnel beneath the water and a 22.9 km bridge that passes over the sea, making it the longest cross-sea bridge in the world.

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The Haoji Railway will assist poverty alleviation efforts in undeveloped areas along the line, including Luoning and Lushi counties in Henan province, with several container transportation bases planned for these areas.

The Free Trade Area of the Asia-Pacific (FTAAP), a manifestation of China's steadfast pursuit for globalization, has been envisioned as a major instrument for ensuring an open economy in the Asia-Pacific amid worries over trade protectionism and lack of growth momentum.