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Despite Africa having enormous renewable potential through solar energy and coastal regions that hold potential for wind energy, the continent has not taken full advantage of its renewable energy resources mainly due to lack of technological capacity, a gap that is being filled by Chinese expertise.

Demand for safe havens saw yield on the 10-year benchmark U.S. Treasury drop to its lowest in more than two weeks, while gold prices edged higher.

Designing of the new area plan has made important progress on the basis of thorough investigation, feedback from different parties, and revisions and improvements, said the statement.

Despite the macro challenges, there are still plenty of opportunities for developers with strong balance sheets, access to low-cost funding, high operating efficiency, and a focus on higher-tier cities. In the coming months, we're likely to see a normalization of pent-up demand that could help such companies outperform.

Depending on plantation yield, potato farmers earned extra income of 1,500 to 30,000 yuan (3 to ,475) each last year.