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China's banking and insurance sectors will forgo part of their profits this year to stabilize the real economy by lowering lending rates, comprehensive financing costs and insurance premiums for companies, and they will offer some free consulting services to small businesses, said Xiao Yuanqi, chief risk officer of China's top banking and insurance regulator.

China will strengthen its national innovation system and speed up building itself into an innovation-driven country to foster the country's development and a better life for its people, Premier Li Keqiang said. Li spoke in a video message of congratulations at the opening ceremony at the Pujiang Innovation Forum, which started in Shanghai on Thursday.

China's Ministry of Transport released measures for assessing the service quality of taxis in May 2018 amid growing social concerns about passenger safety. Many local governments have rolled out measures for tightening management of taxis and ride-hailing services.

China's adoption of internet technologies in court filings is a "fantastic development" that in part drives the country's "massive improvements" in intellectual property protection, according to a senior company executive representing the Peppa Pig brand and its related trademarks.

China's Foreign Ministry said earlier this month that it firmly opposes Washington's ban on US transactions with the Chinese owners of messaging app WeChat and TikTok, calling the US move "blatant hegemonic acts".