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The asset quality of China's large State-owned commercial banks continued to improve during the first six months of this year, and proved to be a crucial factor in their profit growth during the same period.

The asset-liability ratio of major industrial firms declined to 57 percent at the end of June, down 0.3 percentage points from a year earlier.

The aviation, airline, tourism and hospitality industries have been significantly affected by the changes in business travel, he said, adding that nearly all global destinations experienced travel restrictions in the second quarter of this year.

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The author is a research fellow at the Collaborative Innovation Center of South China Sea Studies at Nanjing University. The views do not necessarily reflect those of China Daily.

The award came as an official nod to China Daily app's protection of user data as the app immediately made itself compliant with the European Union's General Data Protection Regulation (GDPR) after it became enforceable in May.

The association's research paints an optimistic picture for the market as more families will make their first purchases and more will replace their vehicles.

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The bank said on May 5 it has proposed solutions in response to clients' demands and its branches are engaged in sincere settlement negotiations with clients on the basis of equality and voluntary consensus.

The baths are thought to have been for the exclusive use of the Qin king and his consort, with adjoining areas reserved for the royal harem.

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The average asset-liability ratio for central SOEs stood at 66.2 percent at the end of July, 0.3 percentage points down from one year earlier, according to the State-owned Assets Supervision and Administration Commission (SASAC).

The benchmark price for gold of 99.95 percent pure or above stood at 339.12 yuan (about .53) per gram, 0.55 yuan higher from the previous trading day, and that for gold of 99.99 percent pure or above was 1.25 yuan higher at 339.84 yuan per gram.