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Bartosz Zimoch does stand-up paddleboarding in Dalian, Liaoning province, on Aug 30. Photo provided to CHINA DAILY

Banks should ward off concentration risk in property sector, while stemming illegal financing channels, according to a quarterly statement briefed by the China Banking Regulatory Commission (CBRC).

Bai suggested improving regulations to explore the use of the pilot system for juvenile offenders.

BYD, the world's largest manufacturers of electric vehicles, announced on Tuesday that it has formed a joint venture with a San Francisco investor that will lease its buses to cities, schools and corporations in the US.

Bankers also said Ant Financial's latest round of funding had paved way for its IPO as early as this year, but the company's profitability has been eroded since then as it has been locked in the competition with the payments arm of Tencent for the Chinese market share, according to the report.