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Apple shares were up about 1 percent at 5.30 in trading before the bell.

As China is in a prolonged transformation of its interest rate regime, the likelihood of the PBOC cutting the benchmark lending and deposit rates is quite small, but it may lower some quasi policy rates, such as the reverse repo rate, the medium-term lending facility rate and the standing lending facility rate if the Fed cuts rates, said Lu.

Art Camp, for arts and crafts, face painting and a performance stage.

As Hu explained, deposit will no longer be necessity when the merchants or service providers can seek enough profits and little risk. Some industries, which have seen rapid growth in the past few months, are starting to be less reliant on deposits and resorting to business models that are reliant on rental income.

Archi Kalandia, Georgia's ambassador to China said: "We are fully supportive of the BRI implementation and will continue to reinforce the cooperation with other Central Asian countries. We are now constructing a railway that connects Central Asian countries. Once completed, the railway will greatly decrease transportation time and cost and bring economic benefits to the region."