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Apart from exploring a market-driven mechanism for the commercialization of scientific research achievements, the tech subsidiaries of these banks also aim to export fintech solutions to smaller banks and other financial institutions, according to China Minsheng Bank.

Another woman in her 20s was seriously injured after a tall fence surrounding a golf driving range collapsed and fell to the ground.

Another US-listed Chinese education stock GSX Techedu Inc also registered losses this week. The company recently reported a tenfold growth in earnings for 2019, but a short sell report in February questioned its financial integrity.

Anti-corruption work in COVID-19 control and prevention is one of the key jobs being carried out by China's supervisory bodies this year as corruption could undermine medical response, alter the use of urgently needed materials and could lead to loss of life.

Apart from Ping An, 11 listed companies have buyback plans valued at over 1 billion yuan each. These include China Merchants Securities, consumer electronics giant TCL Corp and display-advertising firm Focus Media.