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China's banking and insurance regulator defines a creditor committee as a temporary organization established by at least three creditor banking institutions of a company that has run into difficulty in repaying a large amount of debt.

China' economy continued its steady expansion in the first half of this year with GDP up 6.9 percent year on year to about 38.2 trillion yuan (.6 trillion), data from the National Bureau of Statistics showed Monday.

China's auto sales saw its first monthly rise this year in April, with deliveries up 4.4 percent to 2.07 million, when car plants in many other countries remained closed, according to the China Association of Automotive Manufacturers.

China will make its service sector a new highlight in its opening up and the country especially welcomes foreign businesses from Japan and the Republic of Korea to increase cooperation in the sector, Premier Li Keqiang said on Tuesday.

China's Constitution has explicit stipulations related to special pardons, the official said when expounding on the decision.