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The China-proposed multilateral institution was launched in Beijing in January 2016, with the aim to fund infrastructure projects mainly in the Asia-Pacific region.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 0.18 percent to close at 2,540.43 points Friday.

The China (Shanghai) Pilot Free Trade Zone (FTZ), the first of its kind in China, was established in September 2013 and has been a leader in the country's reform and opening-up ever since.

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The Chinese government has been actively restructuring central SOEs in a bid to improve their efficiency and competitiveness, with the number of central SOEs falling to 98 from 117 five years ago.

The Chinese government has been trying to ease the financial burden of patients and their families in recent years.

The Chinese buyers are mostly those who immigrated to the US from China and are naturalized, and their children – first-generation Chinese Americans, according to Smith.

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The Chinese mainland is a vast market and its industrial internet has developed splendidly. The move will bring huge opportunities to Hon Hai, and help it to keep local talents and share the Chinese mainland's development dividends, and the Chinese mainland's talents, funds and market will be conductive to Hon Hai to build its industrial internet ecosystem, the conglomerate said.

The China Securities Regulatory Commission, the country's top securities regulator, by Friday approved the establishment of four ETFs, which will track Japan's benchmark Nikkei 225 and TOPIX but be listed and traded on the Shanghai Stock Exchange.

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The China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity aims to pilot cooperation in fields including financial services, aviation, logistics and information technology.

The China National Tourism Administration expects the industry to grow to 10 trillion yuan in the years to come.