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China's biggest ride-hailing provider, Didi, was at the center of public outcry after two female passengers were killed last year by two of the company's drivers in separate cases in May and August.

China's Producer Price Index, which had negative growth for 54 months, began a positive growth in September 2016 and kept rising vigorously last year.

China will stop using the traditional benchmark lending rate for new loans starting next year, which is considered a milestone in the 25-year process of market-oriented interest rate liberalization reform. Economists expected a more flexible mechanism to reduce financing costs for companies and households.

China's P2P industry had seen fast growth in the past few years. Last year, many P2P firms reported business failures and fraud, prompting the regulators to step up oversight.

China's 5G mobile phone shipments stood at 15.64 million units in May, accounting for 46.3 percent of total shipments in the market. During the same time, 16 new 5G models were released, half of the total new models in May.