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China is best prepared for 5G technology, that major Chinese providers have committed to specific launch dates, and that government has committed to allocate a spectrum for the carriers. [Photo/VCG]

China has reiterated that it would not allow banking and insurance institutions to clandestinely divert funds to bourses and the real estate sector amid renewed efforts to curb financial risks and stock market volatility, and home price spurts.

China is expected to convene the tone-setting economic conference soon — reportedly next week. Economists at home and abroad said it may reaffirm the decisions made at the Political Bureau of the Communist Party of China Central Committee meeting on Dec 8, such as pushing the three major tasks of preventing major risks, reducing poverty in a targeted manner and controlling pollution.

China has set a target to reduce the smoking rate among people aged 15 and above to 20 percent by 2030, according to the "Healthy China 2030" blueprint issued in 2016.

China is pushing forward six economic corridors in the framework of the Belt and Road Initiative: the New Eurasian Continental Bridge, the China-Mongolia-Russia corridor, the China-Central Asia-West Asia corridor, the China-Indochina Peninsula corridor, the China-Pakistan corridor and the Bangladesh-China-India-Myanmar corridor.