With a serious surplus of domestic oil products in recent years, the policy will encourage companies to export their products to ease the country's oil refining capacity surplus."

Han Xiaoping, chief information officer at China Energy Net Consulting Co, an industry consultancy in Beijing, speaking of tax rebates. According to a statement by the State Administration of Taxation and the Ministry of Finance, the government has raised the value-added tax rebate on exports of oil products, including gasoline, diesel and jet fuel, to 17 percent, starting Nov 1.

"Regulators have underlined the importance of managing the liabilities of insurers in recent months, urging insurers to strengthen risk management. Insurers with stronger capabilities to balance portfolios amid economic changes will be more likely to be able to adjust to the new environment and be less affected."

Luo Yi, an analyst with Huatai Securities

"LeEco's global expansion has gone too far, which is putting big pressure on our limited capital and organizational capacities."

Jia Yueting, LeEco founder and CEO of Leshi Internet Information and Technology Corp. Shares hit a 13-month low on Nov 7, as its parent company LeEco faces mounting doubts about its cash flow and overexpansion efforts, which could drag down its growth.

(China Daily Africa Weekly 11/11/2016 page24)