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China's financial regulators have recently strengthened oversight and issued stiffer punishments to remedy shortcomings and promote efficiency.

China's cinema companies boast over 60,000 screens in all, which generated almost 61 billion yuan (.7 billion) in revenue last year. But this year, box-office receipts slumped, sparking concerns as well as moves to reverse the industry's fortunes.

China's economy will remain a powerful engine for world economic growth in 2017, as the fundamentals for China's long-term growth have not changed and the economic structure is optimizing by increasing the role of the consumption and service sectors, said Cai Zhizhou, a macroeconomics researcher at Peking University.

China's largest carmaker SAIC Motor Group launched its car-hailing business on Sunday.

China's commissioner for the State Administration of Taxation told a global conference at the United Nations on Wednesday that China is willing to collaborate on developing an international tax protocol and cooperate on tax administration.