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China's electric motor manufacturer Wolong Electric Group signed an agreement with the German vehicle supplier ZF Friedrichshafen AG online to strengthen their partnership in a joint venture on electric vehicle development, which was first announced in November.

China's investment environment is expected to become more stable, open and transparent, as the draft foreign investment law stipulates foreign enterprises will receive pre-established national treatment plus a negative list management system, according to the Ministry of Commerce on Saturday.

China's export of textiles was .3 billion during the January-May period, up 1.5 percent compared to a year ago, while that of garments saw a 5.5 percent decline to .3 billion.

China's forex reserves rose for the third month in a row in April, as the cross-border capital flow became stable and the Chinese currency, renminbi, stabilizes against the US dollar.

China's newly adopted Foreign Investment Law represents progress, as it gives all businesses a clear operating environment, president of Merck China Allan Gabor said during an interview at the China Development Forum on Saturday.