Investigators later determined the general had "severely violated Party regulations and State laws" and had "given and taken bribes", the report said.
Investors check stock prices at a securities brokerage in Jiujiang, Jiangxi province. [Photo by Hu Guolin/For China Daily]
Investment in railway infrastructure hit 325 billion yuan over the past six months, while civil aviation infrastructure reached 40.1 billion yuan, representing more than 40 percent of their annual targets, he added.
Instead of participating in the operation and administration of SOEs, the new companies will focus on managing the capital, facilitate adaptive capital flows and make effective investments, said the official.
Insiders believe further subsidy policies and increasing profitability of charging pile companies will lead to more financing for related firms.
Investors are rushing to take part in China's booming artificial intelligence sector, and one area in that sector may be an especially lucrative "gold mine"-image-related technologies in the medical sector.
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Institutional obstacles must be removed to facilitate private enterprises' participation in the defense sectors as well as State-owned defense companies' transfer of technologies to private companies, the meeting also decided. Advances in legislation for civil-military integration are also called for.
Investors will be categorized as either professional or ordinary investors depending on their asset and income levels and professional experience, according to the new guidelines released by the China Securities Regulatory Commission (CSRC) which take effect on July 1.
Interestingly, the report found that roughly three percent of the population owns both an eReader and tablet.
Inspectors said that further actions, including removing the car-hailing service apps from app stores and suspension of businesses, will be taken if the platforms fail to rectify their unlawful business activities.