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China has nearly completed the special transfer payment of 2 trillion yuan (9.72 billion) to local governments to support the economy, Vice-Finance Minister Xu Hongcai said on Wednesday.

China has long been bedeviled by officials using their expenses accounts to travel in the name of official visits, use work vehicles on personal errands, and enjoy luxurious receptions and accommodation.

China has become the world's second-largest source of "unicorn companies" according to the latest report on China unicorn companies by the Evergrande Research Institute.

China has come to the right and appropriate time to move a step forward, mainly supported by relative stable economic fundamentals and better market expectations for the currency, according to Zhang Bin, one of authors of the report.

China has lifted more than 66 million people, about the population of Britain, out of poverty over the past five years. There were still around 30 million people in China, 144 in Goutan, living below the poverty line at the end of last year.