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China's once-sizzling property market has shown signs of cooling as prices have faltered in major cities amid tough government curbs. Central authorities have reiterated on many occasions that "housing is for living in, not speculation."

China's housing market last year had a red hot start with soaring prices in some major cities, but ended on a cool note after local governments rolled out a string of restrictive measures echoing the central government's call that "housing is for living in, not for speculation."

China's new type of communication satellite, ChinaSat 18, has encountered malfunctions since it was placed in space on Monday night, according to Xinhua News Agency.

China's economy expanded by 6.9 percent in the first half of this year, well above the government's yearly target of 6.5 percent.

China's focus on new infrastructure projects to offset the economic impact of COVID-19 will also inject new momentum into sustainable growth of the steel industry, Chen said, citing statistics from the Ministry of Finance that local governments in China had issued new bonds worth 1.02 trillion yuan (0 billion) for special infrastructure projects as of March 20.