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China will continue to expand market access, implement a unified nationwide negative list and further simplify administrative licensing, according to the regulation.

China recorded 15.23 million births last year, down 2 million from 2017 and the second consecutive annual decline, with the official birthrate dropping to the lowest level since 1961, according to the National Bureau of Statistics.

China will continue to promote fair market competition in the financial sector. But some giant fintech groups are "hindering fair competition and obtaining excess returns", and taking advantage of "data monopoly", said the CBIRC chairman.

China set a goal of reducing steel capacity by 50 million metric tons in 2017, and will continue its drive in 2018, according to the National Development and Reform Commission, the country's top economic regulator.

China planned to spend at least 2.7 trillion yuan on transport infrastructure projects in 2020, including 800 billion yuan on railways, 1.8 trillion yuan on roads and waterways and 90 billion yuan on civil aviation facilities, according to the ministry.