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The joint venture was signed between Beijing Full Dimension Power Tech Company Ltd, Nanjing Turbine and Electric Machinery Group Company Ltd, and Sri Lanka's IMS Holdings.

The latest investment into long-term residential rental projects follows China's efforts to boost the supply of rental housing and cool down rapidly growing home prices in some cities, investors said.

The iron and steel sector has made commendable progress in its efforts to reduce pollution, notwithstanding the obstacles and challenges, experts said.

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The lack of an internal management system and other factors also led to the shutdown, the statement said.

The investigation found that the Party committee of the company failed to supervise its subsidiaries, resulting in chaotic internal management and severe loss of State-owned assets, the CCDI said.

The investigation is underway, the procuratorate said in a statement released on Monday.

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The joint venture is expected to invest up to 0 billion in the IC manufacturing bases of Tsinghua Unigroup in the next 10 years, the Chongqing municipal government said Tuesday.

The issuance has a maturity of three years with a coupon rate of 2.4 percent, which aims to raise capital to facilitate the AIIB's response to COVID-19 in the short term and maintain its commitment to investing in sustainable infrastructure in the long term, according to a statement from the AIIB.

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The issuance was well-received by investors in the offshore markets of many countries and regions in Europe, North America and Asia, with the bid amount exceeding 80 billion yuan, 2.7 times the circulation, said the PBOC.

The key to the Chinese success is that, together with strong economic growth, development policies specifically aimed at poverty reduction have been firmly in place since market reforms were initiated 40 years ago.