Beijing on Wednesday set up a 5 billion yuan ($724 million) fund to spur development of the fifth-generation or 5G mobile technology industry, its latest effort to gain an edge in the commercialization of 5G tech.

Xi Jinping, general secretary of the Communist Party of China Central Committee, called on Wednesday for further efforts to prevent and eliminate major problems in the nation's reform and development against the backdrop that uncertainties and instabilities are on the rise.

Chinese President Xi Jinping will pay a state visit to Russia from June 5 to 7 at the invitation of Russian President Vladimir Putin, a Chinese Foreign Ministry spokesperson announced on Wednesday at a press briefing.

U.S. leading ride-sharing company Uber Technologies Inc. said Wednesday that riders in the United States and Canada with low ratings may risk losing their right to Uber service.

The Munich-based German think tank ifo Institute published a study on Wednesday, saying that the China-proposed Belt and Road Initiative (BRI) can help Bavarian companies enter new markets and ease access to raw materials.

Over 90 percent of Hong Kong college students responding to a survey said they were optimistic about the country's future, and more than 80 percent said they would like to work on the mainland according to a report released Wednesday.

Singapore outperformed 62 world economies in the 2019 World Competitive Ranking and was crowned the most competitive economy for the first time since 2010, surpassing Hong Kong and the United States.

China's commercial property investment amounted to 53 billion yuan ($7.68 billion) in the first quarter of 2019, with half coming from cross-border investors, according to a recent report.