China has issued a guideline to vitalize consumption backed by new economy sectors and recover the economy post-Covid.  

Shenzhen has rolled out a five-year plan to develop the maritime economy, with 63 key programmes to be implemented, aiming to form a global maritime industry centre.

Luckin Coffee was penalised for unfair competition and 43 companies were found to back Luckin's illegal operation.  

The State Council has issued a master plan for three new pilot free trade zones in Beijing, Hunan and Anhui amid efforts to deepen the opening-up of the country.

China's total trust assets have shrunk by 5.56% y-o-y amid tightened financial regulation to defuse risks, reaching 21.28 trillion yuan (US$3.12 trillion) at the end of the second quarter.  

China's fiscal revenue increased by 5.3% y-o-y in August, reaching 1.2 trillion yuan (US$177.54 billion), recording a slowdown in the declining trend compared to last month.  

The People's Liberation Army (PLA) of China is conducting military exercises in a region near Taiwan Strait starting today.  

Shenzhen Service Bureau for Small and Medium-sized Enterprises (SME) has teamed up with four digital service giants in the country－Ping An Smart City, Alibaba Cloud, Tencent Cloud and Huawei Cloud－to launch an action plan to promote digital upgrades of local SMEs.  

Shenzhen sees foreign trade volume up 2% to 1.88 trillion yuan (US$276 billion) during the first eight months this year, with the export volume hitting 1.04 trillion yuan and the import volume reaching 845.69 billion yuan.

With regulators continuing to tighten the supervision on P2P lending, there are only 15 such platforms left in China as of August. 

The 22nd China International Industry Fair (CIIF) opened on this week in Shanghai, with over 2,000 enterprises participating in the five-day event. 

The assets under custody of China's banking sector hit 153.26 trillion yuan (US$22.41 trillion) as of end 2019, up 5.15% y-o-y, according to the China Banking Association.