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China has over 4,000 small and medium-sized banks, with total assets of about 77 trillion yuan (.9 trillion). These banks have limitations in management capacity, and their targeted clients are usually micro, small and medium-sized enterprises. Small and medium-sized banks were noticeably affected by the novel coronavirus pandemic this year, said Cao Yu, vice-chairman of the CBIRC, at a news conference on April 22.

China has entered into 106 bilateral tax treaties with different countries and regions, including 54 economies along the Belt and Road, an international cooperation initiative proposed by President Xi Jinping in 2013.

China has been the company's largest market outside of Germany for five years in a row.

China has intensified efforts by offering tax exemptions and discounts for new energy vehicle purchases, and ordering government organizations to buy more new energy cars.

China has ordered companies and joint ventures from the Democratic People's Republic of Korea to shut down within 120 days as it applies UN sanctions imposed following Pyongyang's sixth nuclear test, the Ministry of Commerce and the State Administration for Industry and Commerce said on Thursday.