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"Enterprises' mid to long-term loans have also seen a notable increase. Such loans are mainly used for expansion of business activity, instead of flowing into financial markets," Liu said.

"Digital innovation has already become an important direction for Novartis," she said. "The event has built a great cooperative platform for the company and Chinese digital startups."

"Expectations, which had declined in June and July, bounced back in August and continue to suggest solid economic growth for the remainder of 2018," said Lynn Franco, Director of Economic Indicators at The Conference Board.

"Extending the transitional period as appropriate will alleviate the blow of the epidemic on the asset management sector and the pressure on financial institutions from the revamping task," said a PBOC statement, adding that the move will also facilitate financing for the real economy.

"Despite the improvement in epidemic control worldwide, many countries' recent plans for reopening markets may bring about a second wave of COVID-19 cases, which may pose new threats to the global economy's recovery in the future," Liu said. "Due to the epidemic's impact and the lack of new momentum, the world will continue to experience an economic slowdown this year."