GZ-SZ-HK rail The newly-launched high-speed rail between the mainland and Hong Kong has recorded about 880,000 passenger trips since it was put into use two weeks ago, the rail service operator MTR Corp. said on Sunday. Since it started the service on September 23, the Hong Kong Section of Guangzhou-Shenzhen-Hong Kong Express Rail Link (XRL) has witnessed about 880,000 passenger trips to and from Hong Kong West Kowloon Station and train service operations are smooth, MTR said. RRR cut The People’s Bank of China (PBOC) decided on Sunday to cut the requirement reserve ratio (RRR) for yuan deposits by one percentage point starting from October 15. Some of the liquidity unleashed will be used to pay back the 450 billion yuan of the medium-term lending facility that will mature October 15. In addition, the liquidity of another 750 billion yuan will be injected into the market, according to the latest PBOC statement. Alleged child abduction Beijing police dismissed a child-snatching case that the baby’s parents called an abduction on Saturday in response to a viral Weibo post that criticized the police as negligent. Beijing police confirmed on its official Weibo account that a woman involved in the incident, surnamed Li, had mistaken the baby for her grandson, after receiving an appeal from the baby’s parents to review the case. The incident immediately caught public attention on Weibo, a microblogging platform, on Thursday after Weibo user “@liuyuedeyuzainali,” the baby’s father, said he was disappointed in how local police handled the case. Accusations ‘ridiculous’ China slams a series of accusations from U.S. Vice President Mike Pence regarding next month’s congressional elections, cyberattacks, the South China Sea and Taiwan, saying his arguments are fabricated rumors and totally groundless. Chinese Foreign Ministry spokeswoman Hua Chunying on Friday responded by saying that Pence’s speech is based on hearsay* evidence and fabricated rumors rather than China’s actual domestic and foreign policies, and China strongly rejects such groundless accusations. (SD-Agencies) | 