China issued a regulation on Wednesday to toughen its control of peer-to-peer lending companies, thus cracking down on illegal fundraising activities through such platforms and preventing financial risks.
Chinese travelers staying at InterContinental Hotels Group's properties at home and abroad can start to pay via Alipay, as well as through all of its online and mobile channels.
The State Council, China's cabinet, will formulate an accountability system to punish illegal business operations by state-owned enterprise (SOE) managers, a statement said on Tuesday.
Lower headline credit growth, still strong overall credit impulse
Booming Chinese robotics industry a good sign
New age, new balance and new breakthroughs
Is China running out of policy options?
Hello Huawei, Xiaomi, bye-bye big brands
Opening-up the service sector key for reform
Market economy status not a bilateral negotiation
Premier Li Keqiang has stressed the need for more reforms and innovation to boost economic growth in the less-developed central and western China.
Shenzhen-based financial technology platform Penging said China Vanke Co Ltd, the giant residential property developer currently embroiled in a battle for its control, has signed an agreement to invest around 300 million yuan ($45 million), becoming the biggest shareholder in the fintech platform.
China's private health insurance market will grow fivefold to 1.1 trillion yuan ($167 billion) by 2020, fueled by fast-growing demand from the emerging middle class, a report showed on Wednesday.
Despite posting a roaring 161 percent year-on-year profit growth in its half year financial report on Tuesday, China's biggest auto rental company CAR Inc may not in the mood to pop the Champagne and celebrate just yet over its booming business.
Alibaba Group Holding Ltd has tried to shake the perception that it's just the eBay Inc or Amazon.com Inc of China, by pushing into social media and entertainment and actively investing in startups like Snapchat Inc.