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As China made cutting overcapacity one of the major tasks in supply-side structural reform in late 2015, the provincial authorities ordered Kailuan to cut coal capacity by 18.55 million tons from 2016 to 2020 and reduce the workforce by 25,000 people.

Approved by the State Council, China's Cabinet, the 23-clause rules aim to support the country's higher-level opening-up and facilitate the new growth paradigm, said a statement released by the NDRC and the ministry. The rules will take effect 30 days after their release.

Arthur Zhu, president of Hangzhou Lianlian Yintong Electronic Payment, said that technology will be the key for fintech companies "to unlock the future". It will be the company's major mission to leverage leading technologies such as block chain and AI to provide secure and convenient payment services to users.

Arcfox's first production model is to hit the market in 2020, and future models are to be sold globally, according to one of its executives.

As COVID-19 continued to sweep the country, each region reported their largest increase of long-term care cases in the past four months, according to the tracking project.