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China's policy makers emphasized the hardline stance on financial risk control at a tone-setting meeting last month. The regulation on online lending and other tech-enabled finance is expected to be a significant part of the new approach.

China's pharmaceutical demand has been booming in recent years due to the rapidly aging society with burgeoning purchasing power. It has become the world's second-largest market for pharmaceuticals, and the biggest emerging market with growth tipped to reach 5 billion to 5 billion by 2022, according to healthcare information company IQVIA.

China's quarterly GDP growth increased from 6.8 percent in the fourth quarter of 2016 to 6.9 percent in the first two quarters of this year while the country imposed tighter controls on debt and financial activities.

China-Africa trade volume rose by 14 percent year-on-year to 0 billion last year, making the country Africa's largest trading partner for nine consecutive years, Qian Keming, vice-minister of commerce, said on Tuesday.

China's vehicle sales tumbled for a fourth month in October, increasing the odds of a whole-year fall for the first time in more than two decades, but officials at the country's leading industry association cautioned against short-term incentive policies.