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China's banking and insurance regulator announced on Thursday that a new insurer has been set up to take over the assets of Anbang Insurance Group as part of stronger regulatory efforts to manage financial risk.

China's central bank cut the interest rate of medium-term lending facility (MLF) to 3.15 percent on Monday, 10 basis points lower than the previous MLF. [Photo/Sipa]

China's automobile market saw a sales decline in 2018 for the first time in 28 years, with passenger vehicle sales slumping for 10 consecutive months from last year to March, according to the China Passenger Car Association. As the central government halved subsidies for new energy vehicles this year, the promotion of car consumption depends more on local governments and enterprises.

China's State Councilor and Foreign Minister Wang Yi met with top diplomats from three of the six GCC member countries - Kuwait, Oman and the United Arab Emirates, or UAE - at the United Nations headquarters in New York on Tuesday.

China's A-share market will probably continue its recovery in February, amid improved liquidity conditions and brightened investor sentiment, analysts said.