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"But the regulation contradicts the Constitution, which upholds the protection of human rights," Zhu added. "The Legislation Law also would clarify that punishments that restrict citizens' freedom must be ruled by laws, not regulations."

"Carbon emission declined both in intensity and amount in the pilot carbon trading areas," Li Gao, a senior official of the Ministry of Ecology and Environment, told a press conference.

"By making this adjustment, the regulator hopes that banks will fully expose their non-performing loans and truly disclose their risk situation with more accurate capital adequacy ratios and coverage ratios of allowance for loan impairment losses to NPLs. It will be favorable for them to write off and resolve bad assets," said Xiong Qiyue, a research fellow at the Institute of International Finance at Bank of China Ltd.

"But there is no need to be overly anxious about the risks as China has a deposit insurance plan. By taking measures such as appointing another bank to temporarily manage the bank amid a merger and acquisition process, regulatory authorities will help small and medium-sized banks make a smooth transition of liquidity," he said.

"By getting listed, fintechs will consolidate previous achievements in development and will take the IPO as an opportunity to rectify nonstandard businesses so that they will meet compliance requirements. Besides, the status of listed companies will be helpful for them to obtain the relevant qualification accreditation or file for record under tightened regulations," the report said.