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Datang will hold a 24 percent stake, with investment company JAC Capital accounting for 34.6 percent. Local private equity firm Wise Road Capital will have a 17.4 percent stake.

Data Thursday showed a delicate balance between defusing risks and maintaining growth.

Data from government think tank China Academy of Information and Communications Technology showed that 40.8 million smartphones were shipped from factories to retailers in April, with 32 new models being launched.

Data from the Ministry of Commerce showed that in 2018, China's cross-border e-commerce retail sales totaled 134.7 billion yuan (.5 billion), growing 50 percent on a year-on-year basis. Among them, import sales increased by 39.8 percent year-on-year to 78.6 billion yuan.

DUBAI - China's flag carrier Air China said Monday that it will increase the flights between Beijing, the Chinese capital, and Dubai of the United Arab Emirates (UAE) from five a week to daily service from March.