Such measures are in line with a global trend. Governments and regulators the world over are looking to regulate or rein in trading in cryptocurrencies.
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Stimulus through tax and fee cuts came into play in May, Liu said, citing Ministry of Finance data showing that value-added tax revenue dropped by about 20 percent year-on-year in May.
Such a decision "reflects its disrespect for bilateralism and multilateralism under the current administration and should be condemned by the international community", the government said.
Strengthening its position in lower-tier cities has been Ctrip's focus of action. The company said both its new customer acquisitions and user engagement in lower-tier cities improved significantly in Q2.
Students obtain codes and gain access to bicycles at Peking University last month through Ofo bike-sharing system. [Photo by Fan Jiashan/For China Daily]
长春搜索引擎优化排名
Strict penalties, including market access restrictions, and even permanent exclusion from the market will be meted out to actors of bad faith involved in serious breach of laws.
Su noted that the Beijing-based startup has gained sound momentum during the summer vacation this year. By Aug 31, the total number of paid users was 7.8 million, which was a year-on-year increase of more than 390 percent.
Streaming revenue in China likely doubled to 43.2 billion yuan (.8 billion) last year, according to estimates by iResearch Consulting Group. That is remarkable growth from 7.4 billion yuan in 2015 and 20.8 billion yuan in 2016.
Such cooperation meets the countries' need for development and improving their domestic economies, Qiu said.