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Analysts say these changes conform to the objectives of the tax reform which are to facilitate social justice and increase the growing vitality of the Chinese economy.

Analysts said that the stable LPR was in line with market expectations. The US Federal Reserve's rate cuts in December have eased pressure on the PBOC to adopt a similar move.

Analysts said economic and industrial restructuring will be key to reducing particulate matter density as smog has shrouded Beijing and surrounding areas for years.

Analyst believes the opening of access, which gives private players the equal opportunity to secure term deals and regulated prices in the domestic Chinese market, is part of China's effort in liberalizing natural gas prices, opening up access to oil and gas infrastructure and ensuring gas supply for the upcoming heating season.

Analysts believe the price rally was caused by the countrywide blizzard, which has blocked highways and boosted demand for heating.