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The new deductible items include children's education, continuing education, treatment for serious diseases, expenses toward elderly care, and housing loan interest and rents.

The newly surging tourist volume has put the country's transportation system under mounting pressure. China State Railway Group, the country's rail operator, said the system handled over 15 million train trips on Thursday, hitting a record high for daily railway passenger trips since the coronavirus outbreak began early this year.

The new practice also challenges the old wisdom that credibility problems can be solved only by collecting deposits from users. However, it remains to be seen whether it would also help minimize or eliminate risks, observers said.

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The new limit can satisfy card users' normal demand on cash withdrawal overseas while still curbing illegal and large withdrawals that may be related to money laundering and terrorist financing, according to the statement published on SAFE's website.

The new service to facilitate China's foreign trade, so called "Single Window", aims to help efficiency in customs clearance and in turn save enterprises time, Zou Zhiwu said at a press conference.

The new rules require nonfinancial companies or other eligible entities with assets exceeding the specified thresholds to apply to and get approval from the People's Bank of China, the central bank, to establish financial holding companies. The rules also stipulate that applicant companies should control at least two financial institutions doing business across financial sectors.

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The new regulations went into effect Wednesday, allowing authorities to improve administrative efficiency, optimize the business environment and strengthen supervision on related industries and activities, it said.

The naval formation, which first set out from Qingdao on June 25, has also carried out trans-regional training at sea to strengthen coordination among the vessels and improve the skills of crew and pilots in different regions.

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The new round, which will last for four years starting this year, will be extended to State-owned companies and central government bodies instead of only targeting local governments and companies as it did previously, Zhang said.

The new energy subsidy program has been through panel discussions at four national ministries and now features a reduced amount of subsidies. Local media cited sources familiar with the matter, saying that a renewed plan is coming very soon.