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The move comes as China intensified its efforts to build a social credit system for improving its business environment and boosting development.

The moves aim at boosting business climate for the new investors, he said.

The move would help Hyundai produce the model at lower cost and cut reliance on its unionised workers who have resorted to strikes almost every year to raise wages.

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The moderation in liquidity injection eases concerns that authorities may try to stimulate the economy with an oversized credit injection and put the economy back on the path of debt-fueled growth, a major risk to the stability of the banking system, said Nicholas Zhu, an analyst with Moody's Investors Service, a global credit ratings agency.

The modernization of public transport was Sofia's top priority in recent years, and would contribute to improving air quality, she said.

The moves came amid heightened tension between Washington and Moscow over a range of issues such as cybersecurity, arms control, and other regional issues.

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The nation's macro leverage level, or the total debt-to-GDP ratio, is likely to rise continually, and a task of the macroeconomic policies is to keep the ratio stable. It should strike a balance between economic stability and risk prevention to leave room for a long-term sustainable growth, Yi Gang, Governor of the People's Bank of China, wrote for a piece in a magazine run by the country's forex regulator on Sunday.

The music video of the song, called yidaiyilu, or Belt and Road, has been posted and shared on a number of WeChat and weibo accounts.

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The money market will see 140 billion yuan of reverse repos mature this week.

The move is under the central bank's macro prudential regulatory framework, to ease exchange market vulnerabilities, other than a government intervention measure or capital control, according to a central bank spokesperson.