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China will allow local governments to issue up to 200 billion yuan (.6 billion) of special-purpose bonds to purchase convertible bonds and other qualified capital instruments of small and medium-sized banks in 18 regions, said Liu Rong, deputy director of the CBIRC's city commercial bank supervision department.

China unveiled a regulation on Wednesday to further improve its business environment and further open up its economy.

China released major reform measures of its individual income tax system over the weekend, a move that analysts expect will ease the burden on taxpayers, boost consumption and stabilize economic growth.

China will bolster measures to help military veterans find jobs and start new businesses, according to a guideline issued on Thursday.

China outperformed other countries in employment, a major factor in the country's rising competitiveness rating, which has risen to 18 this year, according to the latest yearbook issued by the Lausanne Institute for Management Development (IMD) in Switzerland.