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China's four largest banks - Industrial & Commercial Bank of China Ltd, China Construction Bank Corp, Agricultural Bank of China Ltd and Bank of China Ltd - were nation's most profitable listed companies in 2017, according to a report released by Warton Economic Institute (WEI) on Thursday.

China's growth recovery is set to continue in the second half of the year, and Beijing's policies are expected to focus on narrowing the development gaps amid the rapid and yet uneven rebound to consolidate the economy's long-term resilience, economists said.

China's debt problems will see significant improvements in the next three years, the department head of a government think tank said.

China's major internet giants are already embracing the trend and betting big on the promising market.

China's local authorities have failed to perform well in their legal obligation to fund urban infrastructure for sewage disposal, a national legislative report has found.