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As water rose beyond the warning level at the Chaohu Lake, authorities have decided to turn the area near Sanyuan Village into a buffer zone for the floodwater.

As the Chinese economy adjusts to a "new normal", international financial institutions are facing a series of external challenges－from economic restructuring to low interest margins and digitization. On the other hand, these trends also present opportunities to the entire banking industry, Lam said.

As the United States reported that the number of coronavirus patients in intensive care rose above 20,000 for the first time, there is hope that the Food and Drug Administration (FDA) will give emergency authorization to the Pfizer vaccine on Thursday, clearing the way for its almost-immediate distribution to all 50 states.

As the outbreak continues around the globe, with its speed and intensity exceeding earlier expectations, its impact on the real economy is intensifying.

As the latest move of capital market reforms, revised regulations over refinancing of mainland-listed firms took effect from Friday. The China Securities Regulatory Commission, the top securities regulator, has eased the regulatory requirements for companies listed on ChiNext to issue new stocks to preselected investors.