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China will launch a special campaign to upgrade the network infrastructure, improve IPv6 service and make the terminal equipment better support IPv6, said an official with the MIIT. "We decided to finish transforming 13 internet backbones to the IPv6 network by the end of 2019."

China will likely tighten monetary policy next year while increasing policy flexibility to ensure sufficient credit supply and to prevent overtightening from hurting the economy, economists said on Thursday after the US Federal Reserve rate hike.

China's banking and insurance regulatory body took over Baoshang Bank on Friday for one year, as the joint-stock commercial bank is exposed to serious credit risk, according to a statement jointly issued by the People's Bank of China and the China Banking and Insurance Regulatory Commission.

China will stay committed to greater opening-up. China has comprehensively fulfilled, in some cases outperformed, the commitments it made upon accession to the WTO. A foreign investment management model of pre-establishment national treatment and a negative list has been rolled out. China's trade in goods now accounts for more than one third of its GDP. And foreign-invested enterprises have contributed about 40% to China's export and 20% to tax revenue. China's economy has deeply integrated into the world economy. Pursuing greater opening-up is a sure choice based on its own development needs. Since early this year, we have introduced an array of new measures in pursuit of greater opening-up, including lowering tariffs for some goods and widening market access in the manufacturing and services industries.

China will launch a new trading platform in Shanghai for high-tech and innovative companies and experiment with a registration-based system for initial public offerings (IPOs), as part of the ongoing efforts to further reform and open up the nation's financial market.