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As part of the efforts to strengthen bilateral cooperation between Japan and China, the Japan Exchange Group Inc and Shanghai Stock Exchange have agreed to mutually list ETFs on the Shanghai Stock Exchange and Tokyo Stock Exchange.

As much as 4.04 trillion yuan (1.4 billion) worth of automobiles were traded through retail channels across China in 2016, and the penetration of automobile financing had reached 35 percent. Compared to other retail sectors, automobile consumers are more traditional, meaning there is still huge room for upgrading and development, according to a report on the application of fintech in China's automobile finance sector published on Dec 12.

As one of the eight members of the preparatory team for the college before its founding as China's first such privately-run college in 1998, Wu understood from the outset that the school should be managed in a different way as it took on a unique but important role in China's higher education system.

As of the end of last year, 874 of 1,110 impoverished villages had shaken off poverty, with more than 550,000 people lifted out of poor financial conditions, he said. Disposable income per capita rose to 9,183 yuan last year from 4,229 yuan in 2012.

As of March, China had more than 100 million market entities, including 31 million enterprises, according to the State Administration for Market Regulation.