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The bank also warned that as China accelerates deleveraging, reducing fiscal and financial vulnerabilities is likely to come at the cost of slower GDP growth in the near term, although it will improve its long-term economic prospects.

The benchmark Shanghai Composite Index gained 2.1 percent to close at 2883.1 points, its best performance since early July. The Shenzhen Component Index gained by 2.96 percent while the ChiNext Index on the Shenzhen bourse, which tracks startups and innovative firms, rallied by 3.5 percent.

The biggest challenge facing the county is poverty due to illnesses. A total of 3,285 households were poverty-stricken as a result of serious or chronic diseases, accounting for 45.3 percent of the county's impoverished population, said Zhang Feng, deputy director of the county's health bureau.

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The biggest college admission scam ever prosecuted in the US has prompted widespread concern over fairness in the admissions process, led to swift fallout for defendants, as well as litigation accusing wealthy parents and elite schools of “rigging” the education system.

The author is chairman of the Multitude Foundation. The views do not necessarily reflect those of China Daily.

The author is managing director of Bahati, an editorial services agency based in Hong Kong. The views do not necessarily reflect those of China Daily.

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The audit system will start operation officially from March 18, by which date it will deal with applications for the new board. [Photo/VCG]

The automotive market is almost certain to see an annual decline this year, the first in 28 years, and the bleak prospects are unlikely to change in the next two or three years, officials from the country's leading industry association said on Tuesday.

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The bank's net profits attributable to shareholders came in at 28.45 billion yuan in H1, down 10.02 percent year-on-year.

The bail approval was made conditionally. Lee posted one billion won (6,000) bail for his release.