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China Mobile announced that subscribers of its 4G mobile network－the world's largest－rose to 594 million after the addition of 58.62 million customers.

China Mobile will work with Chinese telecom giant Huawei Technologies Co Ltd to provide a full-coverage wireless 5G network for the high-speed railway that connects Hong Kong to the Chinese mainland, according to Wei Ming, chairman of China Mobile Guangdong branch.

China aims to increase its total railway cargo volume by 30 percent from 2017 level to reach about 4.8 billion tons in 2020, a three-year government action plan unveiled last year said.

China Railway Rolling Stock Corp, the Chinese manufacturer of locomotives and rolling stock, has split its struggling freight train manufacturing business into two units to reduce competition and eliminate excess capacity, as part of a corporate restructuring.

China Minsheng Bank was fined 31.6 million yuan (.68 million) early last December for irregularities including investing wealth management funds in the property market.