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The large amount of offsheet online transactions that were conducted last year had alarmed the government, because unlike transactions backed by banks, untraceable transactions through third-party payment providers may include potential money laundering and other illegal practices.

The judicial interpretation, the first of its kind jointly released by the Supreme People's Court (SPC) and the Supreme People's Procuratorate (SPP), came amid increasing public outcry against rampant online and telecom fraud in China.

The key to the success of such a community is cooperation, he said. “Openness and inclusiveness are the base, mutual respect is the precondition and mutual benefit and win-win results is the impetus.”

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The joint railway project between the two Koreas is aimed to implement the Panmunjom Declaration, which South Korean President Moon Jae-in and top DPRK leader Kim Jong Un signed after their first summit meeting on April 27 at Panmunjom.

The joint drill kicked off in the past weekend, and Chinese navy has sent a fleet of three vessels and some helicopters and marines to take part.

The largest players, including Haitong and Citic, also have ramped up their efforts to secure a place in overseas markets, the paper reported, adding that the launch of the mainland (Shanghai) and Hong Kong Stock Connect systems, which allow the trading of shares on each other’s markets, has given the companies opportunities to attract clients outside China.

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The last thing that China should do, rather should not do, or avoid altogether, is kicking foreign high-tech enterprises out of China merely in tit-for-tat against the US.

The launches commemorate the 10th such 24-hour e-commerce spending spree, which was first held by Alibaba in 2009, and also mark 10 years since the first Chinese astronaut walked in space, said Jing Jie, president of Alibaba's Tmall shopping site.

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The latest China agricultural product wholesale price index came in at 117.33, flat with the previous working day.

The investigation of Yun Gongmin, ex-general manager of China Huadian Corporation, one of the country's State-owned power companies, is being carried out by the Communist Party of China Central Commission for Discipline Inspection and the National Supervisory Commission.