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The center, which is also building a service-sharing platform for large-size medical equipment and technologies, aims to be a major base for regenerative medicine and the training of high-level talent in the country.

The central government announced its decision to set up the new regulatory body at the National Financial Work Conference in mid-July.

The changes have resulted in a surge in the number of visitors and flourishing property and hotel businesses.

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The city has taken the initiative to join the so-called electronic World Trade Platform with Alibaba Group, with an aim of lowering barriers to global trade for small and medium-sized enterprises.

The central bank made a net cash injection of 110 billion yuan last week via open market operations after withdrawal for two consecutive weeks.

The city's exports to B&R countries totaled 21.4 billion yuan in the first quarter, while imports totaled 19.4 billion yuan during the same period.

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The centralized purchase, including MME telecom equipment and SAE-GW telecom equipment, awarded contracts to 5G equipment makers at home and abroad.

The central bank has already cut RRR - the amount that banks need to set aside as reserves--five times since 2018, most recently in January.

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The city's hawker centers are a favorite among locals, as they are conveniently located around the neighborhoods, and provides affordable and different varieties of food. It's also a good social place for friends and neighbors, as many spend happy hours there over a cup of coffee or three meals a day. The lion city even launched a nomination to inscribe its hawker culture on the United Nations Educational, Scientific and Cultural Organization (UNESCO) Representative List of the Intangible Cultural Heritage of Humanity last year.

The city also decided to increase 35,000 license plates for passenger vehicles this year, which will be selected under a lottery-styled scheme.