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The central government will provide 3.5 billion yuan (4.6 million) to promote the building of the Hainan free trade port, the country's top economic planner said on June 23.

The circular was jointly issued by 11 departments including the National Development and Reform Commission and China Banking Regulatory Commission.

The chief scientist at the World Health Organization (WHO), Soumya Swaminathan, on Monday warned that while countries have the right to use emergency authorizations to approve vaccines without full trials, "it is not something that you do lightly".

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The city has set up a mechanism to ensure financing for small and medium-sized tech businesses, as they are less likely to get support from banks due to valuation and development concerns.

The central government had delivered 1.57 trillion yuan of fiscal funds to primary-level authorities by the end of last month. Over 2 trillion yuan in tax and fee cuts were rolled out in the first three quarters of the year, according to the Cabinet.

The central government is paying close attention to the COVID-19 epidemic in Hong Kong, and has mobilized mainland health professionals to aid the battle against COVID-19 in Hong Kong, including helping build community-based treatment facilities and interim hospitals as well as bearing relevant expenses.

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The central bank may also deliver more rate cuts, including a cut in the one-year benchmark deposit rate, to meet policymakers' requirements of saving jobs and rescuing smaller businesses, analysts said. Lower interest rates will help create a favorable financing environment for further bond issuance, they said.

The city should make the best of the China International Import Expo, scheduled for early November in the city, to build an import promotion network that covers the whole world. A more efficient trade environment is envisioned to improve Shanghai's international market influence.

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The central government firmly supports Chief Executive of the Hong Kong Special Administrative Region Carrie Lam in leading the HKSAR government's administration under the rule of law, said Yang Guang, a spokesman for the the Hong Kong and Macao Affairs Office of the State Council.

The central bank will launch policies and use monetary instruments, including the targeted medium-term lending facility, to encourage small-and medium-sized banks to lend to small and private businesses, Wen said.