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Chinese consumers can spend about four hours on mobile phones every day on average, including over 2.3 hours on social media platforms.

Chinese infrastructure companies expressed interest in getting involved in the improvements. Michael Lee, president of China Railway Signal & Communication Corp, said he hoped to build the group's "second home" in the US.

Chinese online service providers and users will be blacklisted if they fabricate, post or spread information that violates social morality, business ethnics or honesty toward the public, according to a proposed regulation.

Chinese consumers spent 168.2 billion yuan (.3 billion) on platforms operated by e-commerce giant Alibaba this year, so it's unsurprising they attracted unwelcome attention.

Chinese commercial banks' nonperforming loan ratio was 1.86 percent at the end of the third quarter of 2019, leaving room for China to adjust its tolerance for bad loans amid a public health emergency.