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China's labor market, industrial structure, consumption demands and domestic and overseas economic conditions will undergo profound changes in the future, Liu said.

China's local government debt soared during an investment and construction binge following the global financial crisis in 2008. Well aware of the risks, authorities have rolled out a string of measures to reduce the local debt burden.

China's forex regulator scraped two investment quota restrictions for foreign institutional investors earlier this month to better facilitate participation in the financial markets.

China's first passenger jetliner that offers high-speed internet service on board was put into commercial operation on Tuesday, according to China Aerospace Science and Technology Corp, a State-owned space conglomerate.

China's crackdown on bitcoin exchanges is a sign that the top regulator no longer tolerates cryptocurrency trading in the country as it has fueled illegal fundraising and cross-border money laundering, experts told China Daily.