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Arbitrage from issuing bonds and then buying structured deposits have started becoming attractive since the second quarter, as the market-oriented bond financing costs have become much lower than those of the banks' financial products, pushing the PBOC to implement targeted measures instead of broadly cutting the policy rates, Li said.

As Geoffrey Ma Tao-li, chief justice of the Court of Final Appeal of the HKSAR, said on Monday in his remarks at the opening of Hong Kong Legal Week 2020, the role and functions of the judiciary are clearly set out in the Basic Law of Hong Kong, and the SAR enjoys independent judicial power and the judges' vows also reflect the independence of the judiciary.

Arreaza said that at the meetings "there have been moments of tension, there are profound differences, but at the same time there are shared concerns and hopefully we can build on this dialogue proposed by the State Department."

Armed Police officers from Fuyang, Anhui province, help flooded villagers replant vegetables on Aug 6. LIU YANGYANG/FOR CHINA DAILY

As China enters the stage of building a modern socialist country in an all-around way and faces a complex situation, exchanges and cooperation with foreign countries on human rights, including the European Union and countries involved in the Belt and Road Initiative, should be strengthened to promote mutual understanding, he said.