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The Chinese CBDC will be controlled by the central bank, and residents will be able to exchange the digital currency in commercial institutions. The CBDC is also 100 percent backed by the reserves that commercial institutions pay to the central bank, according to the PBOC official.

The China-made Y-8F-200W transport plane lost contact 29 minutes after takeoff at an altitude of 5,500 meters over the Andaman Sea, about 70 km west of the town of Dawei, the military said.

The China Banking Association, a self-regulatory organization of the Chinese banking sector, also discouraged its members from blacklisting people who temporarily lose their sources of income and are therefore likely to default on their personal loans or credit cards.

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The China-Belarus Industrial Park, also known as the Great Stone Industrial Park, is the largest China-invested overseas economic and trade park. [Photo provided to China Daily]

The China Bulk Merchandise Index (CBMI), a gauge of domestic bulk commodity market growth, stood above the boom-or-bust line of 100 percent at 105.2 percent in June, down 0.7 percentage points compared with May, according to the China Federation of Logistics and Purchasing (CFLP).

The Chinese Table Tennis and Badminton Administrative Center, which oversees the table tennis association, also unveiled on Tuesday that it has been looking into the violation of discipline by former women's team coach Kong Linghui and will hand down punishment according to the rules.

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The China-funded modern railway is estimated to have boosted the African country's GDP by 1.5 percentage point and has provided 46,000 jobs to locals. About 300 domestic enterprises were subcontracted during its construction, according to official figures.

The China Automotive Technology and Research Center estimated the country would see 350,000 tons of batteries disposed of by 2025.

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The China-Africa Industrial Capacity Cooperation Exposition will take place in Nairobi, Kenya, from Dec 13 to 16, organized by the China Council for the Promotion of International Trade (CCPIT), according to Chen Zhou, vice-chairman of CCPIT, at a press conference.

The China Extreme Sports Association plans to launch in Guanyinshan a youth training camp and study tour base focused on Frisbee and extreme sports, including flying skateboarding and surfing. At the same time, it will also build regional training bases in Beijing, Chengdu, Xi'an, Shanghai, Shenzhen and other places to ensure a smooth training process for coaches and referees.