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"China will set up six new pilot free trade zones and open a new section of the Shanghai Pilot Free Trade Zone, and will speed up exploration of building a free trade port in Hainan province," Chinese President Xi Jinping said in his speech at the recent G20 summit in the Japanese city of Osaka on June 28.

"China will further open its market to other BRICS countries and increase imports, as they are highly complementary in trade," said Wang.

"Consumers can initiate a lawsuit against the two defendants if they want to get the compensation," he said. "The lawsuit procedures will be easier for individual consumers, because the facts of the case have been clear in the public-interest litigation."

"Commercial banks should not overlook the importance of digitalization, including fintech and big data, with which they can advance the transformation of their retail banking business," he said.

"Considering that the regulator has significantly shortened the process of granting preparatory approvals to Bank of China Ltd and China Construction Bank Corp, and that many banks - especially large ones - have almost completed the preparatory work in terms of organizational frameworks, operating systems and staffing, the first batch of wealth management subsidiaries are expected to be formally established around the middle of this year," said Yang Yu, an analyst at the Shanghai-headquartered Hwabao Securities Co Ltd, in a research note.