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The renovations have been based on the city's first safety regulations for B&B projects, which were released last year.

The report noted that China is catching up as a hub for the world's biggest internet companies. The country is home to seven of the world's top 30 tech giants, including Alibaba, Tencent, Meituan-Dianping, JD, Baidu, NetEase and Xiaomi.

The regulator is expected to publish its final guidelines as soon as the first quarter of 2019 and would begin taking applications from interested foreign insurers soon after that, they said.

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The remaining, including the second through the fourth grades of secondary and primary schools, as well as lower kindergarten grades, will resume classes on Sept 29.

The regulation on Party building in the People's Liberation Army will help ensure that the armed forces will forever preserve their nature, purpose and character as the military of the people and will develop the PLA into a world-class military, the statement said.

The regulator has shortened the IPO approval period for companies in four areas: biochemistry, cloud computing, artificial intelligence and advanced manufacturing, said Tencent Finance, the business media outlet affiliated with technology company Tencent Holdings Ltd, in a report on Wednesday, citing people with the knowledge of the matter.

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The report from the Sootoo Research Institute estimated that China's internet-based medical industry will reach 90 billion yuan in sales revenue by 2020. The industry is maturing, the industrial chain is gradually improving, and some players are marching from nascence through competition to sector-wide expansion.

The report comes from an evaluation of China's Consumer Trend Index, a measurement put forward by Nielsen. The index measures perceptions of local job prospects, personal finance and willingness to spend. Index levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively.

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The regional economic momentum was driven by robust domestic demand and a gradual recovery in the global economy and commodity prices, the World Bank said in a report titled "East Asia and Pacific Economic Update."

The report suggested that it would be a good time for the US and China to work together in defining acceptable security-related restrictions to FDI flows, especially as they continue to discuss a bilateral investment treaty.