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Chinese financial authorities have approved the application by a joint venture of American Express for setting up a bank card clearing and settlement institution. [Photo/IC]

Chinese people's real estate investment overseas hit a new low last year as their selloffs increased, a recent report from property consultancy CBRE showed. However, Chinese buyers increased purchases of homes located near famous educational institutions overseas.

Chinese e-sports team Royal Never Give Up, spearheaded by LOL megastar Jian Zihao, aka Uzi, competes with JingDong Gaming at its first home game of the LPL summer season last Sunday at RNG E-sports Center in Beijing. [Photo provided to China Daily]

Chinese e-commerce giant JD said its orders from third-tier cities and below surged 60 percent year-on-year during this year's Singles Day shopping spree from Nov 1 to Nov 11, and more than 70 percent of new users placing orders on JD came from lower-tier cities.

Chinese monetary authorities are pleased with the achievements of their special tools launched nearly three months ago to offset the COVID-19 impact, according to the central bank. The bank again signaled that the two innovative credit supportive facilities will not be extended further, an official from the People's Bank of China, the central bank, told media on Thursday.