1. Chinese Premier Li Keqiang urged local governments to push forward renovation of shanty towns as a national work conference was convened on the issue on Saturday. "Renovation of shanty towns bears many low-income families' hopes in improving housing conditions and is also a focal point in pushing forward people-oriented urbanization," said Li in a written instruction. Although progress has been made on this issue, challenges remain, Li said.
2. China's central bank on Saturday announced it would expand a pilot program on credit-asset pledged lending to nine municipalities and provinces. Before this, the pilot was being promoted in Shandong and Guangdong, said a statement on the website of the People's Bank of China. The nine municipalities and provinces are Shanghai, Tianjin, Liaoning, Jiangsu, Hubei, Sichuan, Shaanxi, Beijing and Chongqing.
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