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China has rolled out dozens of measures to open up the sector in recent years, substantially raising foreign ownership caps and expanding the business scope of foreign institutions, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, the top banking and insurance regulator.

China is capable of sustaining a relatively sound momentum in industrial development in the second half of this year, despite challenges from the COVID-19 pandemic and global economic downward pressure, said the nation's top industry regulator on Thursday.

China has signed 50 bilateral cooperation agreements to date with over 30 countries in the areas of human resources and social security, and has inked bilateral social security treaties with 10 countries.

China has seen 93.85 million new ETC users since the beginning of this year, the ministry said.

China is not expected to face serious consumer inflation pressure in the year's second half, said Lian Ping, chief economist at the Bank of Communications. "Considering the relatively high bases in the second half of last year, the CPI reading could ease in the coming months."