Under the new system, the government will insure deposits of as much as 500,000 yuan ($81,433) for each client's deposits at each bank.
Zhou Qunfei, chairwoman of Lens Technology - a glass provider of Apple, became the wealthiest woman in China on the company's stocks surge.
The central bank cut the minimum down payment for second homes to 40 percent from 60 percent on Monday to add fuel to overall economic growth.
As you dial, a fresh force is emerging
Teaming up with a giant is the way to go
China's greening of its financial market reform
Ideal drivers of progress
Price cut needed to save housing market
China-led bank to benefit all stakeholders
Balance economic growth and restructuring
Fund outflows could undermine the economy if China liberalizes its capital account too rapidly, a senior economist has warned.
Yili's overseas investment decisions are based on an evaluation of how such moves can improve its product portfolio and production capacity.
China's required downpayment ratio for second homes fell from 60 percent to 40 percent, as the latest measure to shore up the cooling market.
Honda Motor Co will soon learn whether giving a designer with no engineering experience five years to develop a sports car is pure genius or plain madness.
Fans can trade in their old iPhones, iPads and PCs with Apple's latest products - but can only enjoy the service in Apple Stores.
Aston Martin Lagonda (China) named Michael Mingshan Peng as its new President on Tuesday.