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China's leading insurer Ping An took the top spot in the world in fintech patents by filling 1,604 patents last year, according to a report released by the World Intellectual Property Organization.

China's huge and fastgrowing market has acted as a catalyst. Data by China Market Monitor, a market analysis company, said the sales of laser TVs in China more than tripled in the first half of 2018. Data service provider AVC also said sales of laser projectors in China increased 48 percent to reach 162,000 sets in the same period.

China's electricity consumption, an important indicator of economic activity, rose significantly during the first quarter of this year, as the service sector played a bigger role in driving the economy, the country's energy authority said on Tuesday.

China's largest telecom service provider China Mobile, United States chipmaker Qualcomm Asia Pacific Pte Ltd, Grantwell Fund LP, CICFH Entertainment, HNA Technology Co Ltd and CMC Concord subscribed for 46.16 million shares, 46.17 million shares, 14.54 million shares, 88.24 million shares, 13.85 million shares and 12.94 million shares respectively, the report said.

China's first 160 kilometer-an-hour magnetic levitation trains will be delivered this year－a breakthrough that will help accelerate the pace of developing a medium-to-low speed series of maglev family products, a leading rail sector executive said on Thursday.