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China's internet healthcare market is expected to surpass 90 billion yuan (.1 billion) by 2020 from 22.3 billion yuan in 2016, according to a Sootoo Research Institute report in April.

China's leadership has explained the "new development paradigm "as a model that shifts economic growth drivers from factors of production to innovation, and from investment alone to both consumption and investment.

China's northernmost city, Mohe in Heilongjiang province, issued a red alert for a cold snap on Monday, its first since records began, China News Service reported.

China's efforts to open up the financial markets are also making the country an even more attractive investment destination for international institutions.

China's financial system has great potential in helping stabilize the economy, a previous China Daily report said, adding that the country will deepen supply-side structural reform in the financial sector and strengthen the sector's ability to serve the real economy.