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China's growing middle class and its taste for wine have prompted a group of importers to pursue fine wines from California.

China's massiveness and complexity mean that the term "Chinese consumer" is insufficient by default. If you are ever familiar with the "silo" system categorizing different Chinese cities, people's tastes and spending power may vary, from tier-one to tier-four, categorically.

China's financial regulators have recently tightened risk control, with the China Banking Regulatory Commission vowing to "become more active in financial risk control" and the China Insurance Regulatory Commission ramping up supervision of insurers.

China's foreign exchange regulator will likely focus on keeping the country's currency stable this year while allowing greater flexibility in the exchange rate, economists said on Monday, with some believing there may still be potential for the yuan's further appreciation against the US dollar.

China's departure tax refund policy was first launched in Hainan province in 2011. By the end of 2017, more than 20 provinces or cities in the country had started the policy, said Wang Xiaoxuan, head of the Taxation Administration Bureau of the Hebei Provincial Department of Finance.