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China's banking and insurance regulatory body took over Baoshang Bank on Friday for one year, as the joint-stock commercial bank is exposed to serious credit risk, according to a statement jointly issued by the People's Bank of China and the China Banking and Insurance Regulatory Commission.
China will develop next-generation information networks and expand 5G applications, as well as build more new energy vehicle charging facilities and promote wider use of new energy automobiles, said the report.
China's capital market was ranked fifth in terms of competitiveness among the 20 major capital markets worldwide, up from the eighth place for the previous year, said the report, co-authored by the Shanghai Advanced Institute of Finance and the SSE's Capital Market Institute.
China will open up its general manufacturing sector and expand foreign investment access to sectors like financial services, telecommunications, medical services, education, elderly care, and new-energy vehicles, according to the government work report.
China's "dual circulation" development pattern, which takes the domestic market as the mainstay while domestic and foreign markets complement each other, should take a green and sustainable path, industry experts said on Tuesday.
来源：资阳报