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Chinese and Kenyans celebrated the ushering in of the Chinese New Year and the Year of the Dog with traditional and contemporary songs and dances.

Chinese healthcare and medicine regulators have also made efforts to reform the drug review and approval system, which shortens time for a new drug to be widely used and encourages innovations and enables investors to achieve returns in a shorter period of time, said Song Ruilin, executive president of China Pharmaceutical Innovation and Research Development Association, at a recent conference.

Chinese investment bank China International Capital Corporation has sealed an agreement to acquire a majority stake in US asset management firm Krane Funds Advisors.

Chinese commercial realty sales are expected to reach 260 billion yuan ( billion) by 2020, up 45 percent from the 2016 level, underlining huge investment potential in the sector, an industry report showed.

Chinese mainland stocks retreated on Wednesday, with the benchmark Shanghai Composite Index edging down 0.41 percent to end at 3008.81 points.