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China is likely to issue 5G licenses to telecom carriers and will apply 5G technology to terminal devices as early as the second half of 2019, according to the Ministry of Industry and Information Technology, Xinhua reported.

China is ready to work with France and Europe to adhere to two-way opening-up and improve the global economic governance system, Xi said.

China is targeting the massive overcapacity in its iron and steel sector and has vowed to continue with its overcapacity reduction this year. While some commentators and analysts have suggested the initiative could drag on iron demand in the world's second-biggest economy, Balhuizen said he was not concerned.

China is the company's fastest-growing market outside of the United States in terms of store count and the acquisition builds on the company's ongoing investment in the country.

China is joining hands with foreign aviation authorities and operators to boost professional training, spare-parts support and aviation network building, according to AVIC International.