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China and Africa should always support each other, and that is an important part of building a community with a shared future for China and Africa, the Senegalese president said.

China Merchants Bank (CMB) is looking to set up a wholly-owned asset management arm, the first commercial bank to do so if it is approved, in response to regulators' ramping up efforts to counter risks linked to a vast shadow banking sector.

China Coal Price Index, the first index of its kind in the country, rose by 0.7 percentage points to 156.6 on Dec 8. The price of 5,000 kilocalorie coal and 5,500 kilocalorie coal in the northern ports reached 591 yuan and 612 yuan per ton respectively on Dec 8, up by 5 yuan and 2 yuan respectively from a week earlier.

China and the Philippines signed 29 cooperation documents covering such areas as trade, investment, finance, agriculture, culture and the Belt and Road Initiative during President Xi Jinping’s state visit to the Southeast Asian country on Tuesday.

China Huarong is one of the country's four largest State-own asset management companies.