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China's banking and insurance regulatory body took over Baoshang Bank on Friday for one year, as the joint-stock commercial bank is exposed to serious credit risk, according to a statement jointly issued by the People's Bank of China and the China Banking and Insurance Regulatory Commission.

China will improve the quality of dairy products to boost the confidence of consumers, according to a guideline unveiled by the State Council on June 11.

China's National Energy Administration already has plans to produce 50 billion cubic meters of gas from coal by 2020, enough to satisfy more than 10 percent of China's total gas demand.

China will properly extend the implementation period of the policy that allows qualified small businesses to apply for delays of repayments of loan principal and interest. It also will create policy instruments to support banks to issue loans with no collateral, an official of the China Banking and Insurance Regulatory Commission said on Monday.

China will loosen its restrictions for foreign shares in the banking, security, insurance and automobile industries in China, Premier Li Keqiang told a group of business leaders from both China and Germany on Thursday.