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Another policy that took effect on Wednesday was a revision to the regulation on distant-water fishing.

Apart from JD Finance, Ant Financial Services Group, the financial affiliate of e-commerce giant Alibaba Group Holding Ltd, also enables individuals and businesses to execute payments online in a secure manner.

Antti Peltomaki, the EU’s deputy director general for internal market industry entrepreneurship and SMEs, welcomed the imminent start of that special year, which the EU will launch in Venice in January along with the China National Tourism Administration.

Another goal is to incubate more than 1,000 industry clusters worldwide. To this end, Juhuasuan plans to establish a new supply center, bridging upstream farmers and manufacturers with e-commerce merchants, while designing promotional campaigns to help them sell to consumers.

Apart from requiring banking institutions to comprehensively enhance the quality of data, the regulator also said "banks should integrate data application into the entire process of their business operations, risk management and internal control to effectively capture risks, optimize business procedures, and improve the effectiveness of internal control.”