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China's auto market has seen slumping sales for 16 consecutive months. Sales for the first 10 months of the year totaled 20.65 million units, with a 9.7 percent year-on-year decline.

China's AI market will continue to heat up, and the market size will maintain a growth rate of about 30 percent, according to a report by China Center for Information Industry Development. By 2021, the market of AI sector will exceed 80 billion yuan (.8 billion), the report showed.

China will deepen cooperation with other countries and organizations to further push forward open development in the 5G, Su Wei, deputy secretary-general of the National Development and Reform Commission, said at the World 5G Convention, which started in Guangzhou, Guangdong province, on Thursday.

China will intensify its efforts to win the three tough battles－preventing major financial risks, targeted poverty alleviation and reducing pollution－to meet the public's new expectations with higher quality development, Premier Li Keqiang said.

China's announcement to suspend the agreements came about a week after it suspended similar agreements between Hong Kong and Canada, Australia and the United Kingdom.