The clearing services provider has lagged behind Alipay and WeChat Pay since the surge of mobile payments in 2014, but may catch up with those competitors by encouraging the use of UnionPay quick response code (QR code) payment and QuickPass, a form of near-field communication (NFC) payment.
The commission will continue to deepen market-orientated reforms and strengthen its oversight over market practices, the CBIRC said.
The combined turnover on the two bourses stood at 421.91 billion yuan ($ 60.9 billion), down from 440.2 billion yuan the previous trading day.
The company has set up a research team of more than 70 people. Over 3 percent of its annual sales revenue is poured into research and development.
The commission's regulatory function has gradually improved, with the supervision of capital becoming a major focus for the body, he added.
The companies aren’t disclosing the size of the funding. KITT.AI?is planning to build an “Alexa Skill” based on Semantic Lighting,?extending the capabilities of?Amazon’s virtual assistant so that people can not only turn lights on and off, but also do colorful things with lighting through speech.
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The company has held similar activities in a number of countries, including on a reef in the Great Barrier Reef in Australia, and the Dracula Castle in Romania.
The company believes helping Chinese companies comply with its PV industry standards will not only help these manufacturers win contracts overseas, but will also support the development of the industry more widely by helping to reduce risk for the different stakeholders in solar power projects, from investors and banks to engineering, procurement and construction contractors.
The commission said in a statement that its primary task is to prevent and dissolve major risks.
The companies will also be urged to straighten out their service packages to trim the packages available by 15 percent this year.