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China will set up a proper pricing mechanism for debt-to-equity swap programs and develop new approaches for swap deals to help ease companies' debt burdens and boost their vitality, a State Council executive meeting chaired by Premier Li Keqiang decided on Wednesday.

China's Ministry of Industry and Information Technology granted commercial-use 5G licenses Thursday to China Broadcasting Network and the country's top three telecom operators -- China Telecom, China Mobile and China Unicom.

China will facilitate foreign institutional investors in investing in the inter-bank bond market by greenlighting them in obtaining type-A underwriting licenses in the market, said the statement.

China's GDP growth reached a higher-than-expected 6.9 percent in 2017. By press time, among the 20 provinces and autonomous regions that have released their 2017 GDP growth rates, Guizhou province topped the rest by achieving a 10.2 percent growth.

China will use 100 billion yuan (.7 billion) from the surplus of the Unemployment Insurance Fund for the improvement of vocational skills and will expand enrollment at vocational colleges by 1 million this year, the State Council's executive meeting chaired by Premier Li Keqiang decided on Tuesday.