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China Economic Information Service said in a report on July 30 the credit card business would face growing pressure as new participants, including online lending platforms and mobile payment service providers, continue to join the consumer finance market.

China also plans to raise the portion of its renewable and non-fossil fuel power consumption to 15 percent of total energy by 2020, according to the 13th Five-Year Plan.

China aims to become an "innovative nation" by 2020, an international leader in innovation by 2030, and a world powerhouse of scientific and technological innovation by 2050.

China and the United States have reached a new deal that will ease market access in the areas of agriculture, financial services and energy, marking both sides' willingness to advance the trade relationship and alleviating fears of a trade war between the world's two largest economies.

China allowed local governments to arrange road tests for ICVs, which cover different degrees of autonomous driving, in April 2018. An increasing number of cities, including Beijing, Shanghai and Chongqing, have issued license plates for road tests of ICVs.