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Analysts hold there is room for further tax reductions through measures such as lowering corporate income tax and expanding the scope of expense reductions for enterprises. Currently, China has three brackets for value-added taxes at the ratios of 17 percent, 11 percent and 6 percent respectively. The country can reduce the three brackets into two in the future, analysts suggest.

Analysts attributed the robust growth of international air travel passengers partly to the booming outbound tourism market, as increasingly affluent Chinese crave experiencing exotic cultures.

Anbang's external liabilities will not be affected during the takeover period, and its business will be operated as usual in accordance with law, the CIRC said.

Andrew Coak, a housing assistance case manager at the Downtown Emergency Service Center, believes the business community is peddling a false narrative. He challenges accusations that the city is wasting taxpayer dollars and failing to address the homelessness crisis.

An original exhibition in San Francisco is expected to inspire people of today to seek beauty from truth and nature by inspiring conversations with the past.