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China will roll out policies to accelerate the commercialization of 5G, with radio-frequency plans and licenses for the fifth-generation mobile communication technology coming out "in time", the Ministry of Industry and Information Technology said on Thursday.

China's banking and insurance regulator said on Friday that it has approved the establishment of the first foreign majority-owned wealth management firm in China.

China will step up fiscal policy support to the new economic development pattern by being largely reliant on expanding domestic demand and facilitating technology innovation, Finance Minister Liu Kun said on Friday.

China's case studies of smart city this year will promote the formulation of related guiding principles and provide a model for the development of innovation cities in the Asia-Pacific region.

China's beauty market has been developing fast as the country's increasingly affluent consumers are willing to spend on products and services that make them look younger and more glamorous.