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China cuts market-based benchmark lending rates

BEIJING, Oct. 21 (Xinhua) — China on Monday cut its market-based benchmark lending rates, with the one-year loan prime rate (LPR) down to 3.1 percent from the previous reading of 3.35 percent. The over-five-year LPR, on which many lenders base…

Tesla Shanghai factory hits milestone output of 3 mln cars

SHANGHAI, Oct. 11 (Xinhua) — The 3 millionth vehicle produced by Tesla Gigafactory Shanghai rolled off the assembly line on Friday, reaching a new milestone amid the U.S. company’s commitment to developing along with China’s new energy sector. The vehicle,…

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