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Chinese banks are faced with key challenges, including slower economic growth, liberalized interest rate market, the rise of internet finance and the trend of financial deleveraging, which make the role of their top leadership a crucial factor for the banks to achieve sustainable success, the report said.

Chinese consumers are proving adept at finding brands that deliver value for their money, and Chinese brands have become credible competitors, especially in the personal digital gadget and personal care categories, according to a new report released by consulting firm McKinsey & Co this week in Beijing.

Chinese community-based online retailing platform Nice Tuan announced on Wednesday it has raised million in its series C2 round of fundraising. [Photo/Nice Tuan]

Chinese courts have been ordered to offer more efficient legal services for litigants, with the nation's top court listing clearer responsibilities for court presidents and chief judges to prevent abuse of power in handling cases.

Chinese investors' demand for gold has declined in the second quarter of 2019 due to the rising confidence of investors in the renminbi's exchange rate and the steady performance of the domestic stock market, experts said.