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China's automobile sales witnessed sharpest monthly decline in the past seven years in September, The Paper reported on Tuesday.

China will further open the banking and insurance sectors to foreign investors, and may even allow foreign institutions to set up wholly owned companies in China, according to the country's top financial regulator on Monday.

China's Hangzhou Bicycle Service, which claims to be the largest public bike-sharing scheme in the world, has won an international award for sustainable transport from an organization based in the UK.

China's banking and insurance regulatory body took over Baoshang Bank on Friday for one year, as the joint-stock commercial bank is exposed to serious credit risk, according to a statement jointly issued by the People's Bank of China and the China Banking and Insurance Regulatory Commission.

China's Ministry of Education also has reported the country's students face restrictions and increasing scrutiny while applying for visas. In June, the ministry issued an official warning to US-bound Chinese students about potential risks.