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Bank of China also increased its balance of financial inclusion loans by 105.5 billion yuan, or 35.4 percent, over the same period.

Back in the 1990s, Cai Mingpo, 48, was just a "poor Chinese student" in France. Today, he helms the billion Cathay Capital Private Equity.

Back in 2017, Vanguard launched its wholly foreign-owned enterprise in China－Vanguard Investment Management (Shanghai) Ltd－in Shanghai free trade zone.

Bain also predicted outbound deals cooling down given Beijing's tighter rules on overseas investments and stricter scrutiny of Chinese investment by foreign regulators, but added that the drop would only be temporary and affect mostly State-owned enterprises.

Backed by government policies, high-tech equipment and products are being rolled out to help people stay healthy. Custom-made fitness programs are also in vogue.