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China's insurance law stipulates that an insurance firm can be taken over by regulators if it is insolvent, or illegal activities hurt the public interests and threaten its solvency.

China's e-commerce behemoth JD.com denied the "mass layoff" rumor on Tuesday and claimed it had reported the case to the police.

China's first cross-border tourism zone in the Guangxi Zhuang autonomous region will conduct trial operations in June with its neighbor, Vietnam, as tourism between the countries surged last year.

China's healthcare market is expected to grow exponentially due to rising demand related increasing rates of chronic diseases and the healthcare sector's breakneck development pace.

China's major state-run commercial banks are conducting large-scale internal testing of a digital wallet application, moving a step closer to the official launch of a home-grown digital currency, the 21st Century Business Herald reported on Thursday.