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China's consumer price index (CPI), a main gauge of inflation, rose 3.8 percent year-on-year last month, mainly driven by soaring pork prices, which rose 101.3 percent year on year in October, contributing nearly two-thirds of the CPI growth.

China's move was in response to the White House announcing earlier Friday it would impose on July 6 25 percent tariffs on about billion of Chinese products on a list that was previously published.

China's insistence in holding the Canton Fair online despite the epidemic shows that the country's determination and confidence to promote foreign trade development and opening-up will not change, said Bai Ming, deputy director of the international market research institute under the China Academy of International Trade and Economic Cooperation.

China's new yuan loans rose to more than 12 trillion yuan during the first six months of this year, up 2.42 trillion yuan year-on-year, according to data from China's central bank, the People's Bank of China.

China's investments in building infrastructure even in remote areas may appear uneconomic to outsiders, but it has been an essential way of providing opportunities to hundreds of millions of people.