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China will grant temporary 5G licenses this year, the minister of industry and information technology confirmed on Thursday, as the country is entering the fast lane of 5G commercialization.

China's 37 listed banks realized a collective net profit of 1,453 billion yuan in 2016, up 3.65 percent year on year, growing by 0.8 percentage point as compared to 2015, according to the report Listed Banks in China – 2016 Review and Outlook released on Tuesday by EY, a global leader in assurance, tax, transaction and advisory services.

China will ramp up its push to achieve breakthroughs in crucial software, with a focus on encouraging fundamental theoretical innovation and promoting cross-sector cooperation, the country's top industry regulator said on Friday.

China will phase out the use of highly toxic pesticides in the next five years, an agricultural official said on Thursday.

China's GDP scale in the first quarter tends to be the smallest compared with the other three quarters, due to production disruptions caused by the Chinese New Year holiday. Yet, the epidemic's impact on the economy this quarter has been so widespread that the whole-year GDP growth will likely be affected considerably.