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Chinese Ambassador to South Africa Lin Songtian said the center would be crucial in deepening relations between China and South Africa, as well as the rest of the continent.

China's shadow banking sector is expected to become healthier in 2021 amid improving regulatory efforts to de-risk the sector, after assets of the most risky shadow banking activities contracted by nearly a quarter from an all-time peak, experts said on Monday.

China's steel consumption is expected to hit a record in 2019, and this would then be followed by a slight decline in demand in 2020, a new report by the China Metallurgical Industry Planning and Research Institute released on Thursday said. The report added that the country's crude steel output is also expected to fall in 2020 from 2019.

Chinese President Xi Jinping meets with incumbent and incoming members of the Board of Directors of the Boao Forum for Asia (BFA) in Boao, South China's Hainan province, April 11, 2018. [Photo/Xinhua]

Chinese New Year is usually a time when people bring home their earnings from the past year and reunite with family members.