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China Baowu's crude steel capacity accounted for only 7.9 percent of China's total in 2016, while Pohang Iron and Steel Co in South Korea produced 37.5 million tons last year, accounting for 54.6 percent of the country's total and Japan's Nippon Steel & Sumitomo Metal Co took 44.1 percent, data from Lange Steel Information Center show.

Chen added: "Buoyed by more than 6.5 million livestreaming hosts and 280 million registered users, we will continue to expand the business and gain new momentum in the market."

Chenghai's toy sector industrial value topped 13.5 billion yuan in the first half, a year-on-year increase of 5 percent, according to the bureau.

Cheng Lihua, vice-minister of finance, said at a news briefing at the State Council Information Office on Thursday that China will implement seven tax-cut measures to boost the growth of small and micro-businesses as well as their ability to innovate. These measures are expected to help cut taxes by another 60 billion yuan (.5 billion).

Children in Hangzhou, East China's Zhejiang province mark the World Sleep Day on March 21, 2019. [Photo/IC]