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Chinese financial regulators explained the action is to better protect the interests of financial consumers and investors and sustain sound capital market development in the long run. High-leverage lending and excessive debt to a broad group of individuals may threat financial stability.

Chinese police have cracked more than 4,700 criminal cases of infringement and counterfeiting this year, and effectively protected the legitimate rights and interests of both consumers and enterprises, the Ministry of Public Security said on Thursday.

Chinese regulators will not block private or low-rated companies from granting loans, according to two officials who handle corporate debt issuance applications at local regulatory bodies.

Chinese poverty reduction is a success story of historic significance. Over the past 40 years, the Chinese government has embarked on a well-organized campaign to reduce poverty and turn the nation into a middle-income country within a generation. The result has been unprecedented progress, with more people lifted out of poverty more quickly than has ever been achieved by humanity.

Chinese personnel offer help in conflict zones