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China's insurance regulator barred Yao Zhenhua, chairman of Foresea Life Insurance, from the insurance industry for 10 years due to irregular market operations.
China's major industrial companies gained 658.29 billion yuan ( billion) of profits in June, up by 20 percent year-on-year, compared with 21.1 percent growth in May, data from the National Bureau of Statistics showed on Friday.
China's new type of communication satellite, ChinaSat 18, has encountered malfunctions since it was placed in space on Monday night, according to Xinhua News Agency.
China's crude oil output grew 0.8 percent year-on-year to 190 million tons last year, snapping the declining trend since 2016, said the National Bureau of Statistics. About 650 million tons of crude oil were processed in 2019, up 7.6 percent year-on-year, while the country aims to increase its annual domestic crude oil output to more than 200 million tons this year, said the bureau.
China's efforts to build a higher-level open economy with measures to liberalize trade and investment will provide opportunities for countries including Japan, Jiang said.
