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The Seattle skyline

The SFC said a review of the VCM is needed "in light of evolving international standards and best practices".

The QFII and RQFII programs, introduced in 2002 and 2011, respectively, allow overseas institutional investors to move money into China's capital account to encourage controlled flows.

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The SAR's government predicted that Hong Kong's economy would contract by 1.3 percent in 2019, marking the first year of recession since the global financial crisis 10 years ago.

The Russian Foreign Ministry said earlier this month that Russia is ready for consultations on the Venezuela crisis with the United States in accordance with the principles of the UN Charter.

The People's Bank of China (PBOC) pumped 200 billion yuan ( billion) into the market through reverse repos, a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

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The People's Bank of China said Friday that it has raised the upper limit on small bank batch payments to 500 million yuan (about .4 million) from Jan 24 to 30 to ease fund transfers in the fight against the pneumonia caused by the novel coronavirus.

The SPP issued a circular on abuse at kindergartens on Dec 1, which resulted in prosecutors stepping up assistance for police in investigations as well as educating the managers of preschools on how to keep their students safe.

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The Security Bureau of the Hong Kong Special Administrative Region (HKSAR) government also said everyone should be responsible for their own actions, including taking legal responsibility.

The ROK endorses the Belt and Road Initiative and expects it to bring greater development and prosperity to countries and regions along the routes, including China and the ROK, Moon added.