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Cui Fan, a professor at the University of International Business and Economics, said the move is part of China's long-term endeavors to lower tariffs. Combined with a number of policies released by the State Council to attract foreign investors, the tariff policy is expected to improve the business environment and help boost foreign investment in the world's second-largest economy, he said.

Ctrip is the big boy of the pack. In October 2015, it swallowed up Qunar, a travel firm that was beginning to find traction. According to consultancy Frost& Sullivan China, the combine of Ctrip and Qunar commands a more than 60 percent share of the OTA market.

Ctrip is to provide physical check-ups and psychological support as needed for children involved. The company will also offer two-weeks paid vocation for employees who cannot find alternative childcare.

Customers trust that?when they click buy button, the item they ordered will arrive promptly at your doorstep — sometimes a day early.

DCP Capital, a private equity firm focusing on China, on Tuesday announced investment of 0 million through two rounds of convertible bonds to fuel the further growth of Sunpower Group Limited.