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Chinese authorities are pragmatic about infrastructure and have placed the Belt and Road Initiative at the center of the policy agenda.

Chinese financial regulators explained the action is to better protect the interests of financial consumers and investors and sustain sound capital market development in the long run. High-leverage lending and excessive debt to a broad group of individuals may threat financial stability.

Chinese authorities have the policy space to tackle economic downside risks, but the counter measures need to be consistent with the structural rebalancing of the country's economy in the longer term, the World Bank said on Thursday.

Chinese bike-sharing company Ofo Inc announced on Tuesday it finished its series E2-1 round of financing led by e-commerce giant Alibaba Group Holding Ltd, raising a record 6 million, the highest single round of financing in the bike-sharing sector, according to Xinhua.

Chinese actress Ning Chang psoes for the fashion magazine. [Photo/Official weibo account of Our Street Style]