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The China-proposed initiative was founded on the vision of common development and sustainable growth, he said. "I admire the goal in the pursuit of mutual benefits through cooperation."

The Chinese authorities have announced plans to scale back subsidies in the NEV industry, which caused concern that demand for batteries might be dampened as a result.

The China Securities Regulatory Commission announced on Tuesday it would take measures to enhance market liquidity, and encourage share buybacks as well as mergers and acquisitions among listed firms, the latest in a string of official statements aimed at stabilizing markets and boosting investor sentiment.

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The Chinese government is also aiming high for the sports sector to boost the economy. A recent guideline released by the Communist Party of China Central Committee and the State Council, China's cabinet, called for creating new business models for sports consumption with great demand potential.

The Chinese authorities are aware that demand for palliative care is rising rapidly.

The Chinese Manufacturers' Association of Hong Kong expressed confidence that the measures will help alleviate the current situation and rebuild people's confidence in the government.

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The Chinese banking sector's external liabilities reached .34 trillion by the end of June, up 2.29 percent year-on-year, according to the country's foreign exchange regulator on Thursday.

The China Securities Regulatory Commission will enhance law enforcement to capitalize on the new law's positive roles in pushing market reforms, maintaining market order and protecting investors' interests, according to a statement on its website.

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The China International Import Expo, which is being held in the neighboring city of Shanghai, has provided the city with a golden opportunity to introduce related projects to strengthen the chain and fill the gaps, if any, said Lan.

The China Banking and Insurance Regulatory Commission (CBIRC) distributed a work plan earlier this year together with several other government departments to encourage local governments to raise funds in accordance with laws and regulations to participate in capital replenishment and risk mitigation of small and medium-sized banks.