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Analysts also noted that the current market advances may end in mid-March. "Looking ahead, downward economic pressure and expectations of further policy easing will jointly influence the market, making fluctuations inevitable," said Xie Chao, an analyst from Shanghai-based Everbright Securities.

Anhui Yucheng and Yucheng Global, operators of online P2P lender Ezubao, and 10 company executives, including Yucheng chairman Ding Ning, were found guilty of fundraising fraud, said the Beijing No 1 Intermediate People's Court.

Angel Gurria, secretary-general of the Paris-based Organization for Economic Cooper?ation and Development, said he has pinned high hopes on China’s reform agenda, which is people-oriented to deliver a better life for millions. “Every year I have traveled to China two or three times, and I can tangibly feel the impacts of China’s reform agenda,” Gurria said. “I particularly feel impressed by China’s poverty-reduction efforts, which have year-by-year targets.”

Analysts say these changes conform to the objectives of the tax reform which are to facilitate social justice and increase the growing vitality of the Chinese economy.

Anhui has earmarked 10 million yuan (1.46 million U.S. dollars) in disaster relief funding and sent 370 tents, 12,000 quilts, clothes, food, bottled water and other supplies to flood-hit regions.