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China's first self-developed 160 kilometer-an-hour magnetic levitation train, made by CRRC Zhuzhou Locomotive Co Ltd, undergoes a test in Hunan province.[Photo by Liang Chao/For China Daily]

China's newly revised Budget Law clearly stipulates that local government bonds can be publicly issued through a national quota-based mechanism, a main financing channel for local governments.

China's consumer price inflation remained mild in July while producer prices rose moderately, providing a boost to the industrial sector. Analysts said the country may keep its monetary policy stable given the expected stable price trends this year.

China's economic growth held steady in the first half of 2019 despite headwinds, as positive factors are increasing to support high-quality development, the country's top economic regulator said on Tuesday.

China's manufacturing sector attracted 128.6 billion yuan in foreign investment in the first half, up 3 percent year-on-year and accounting for 29.1 percent of the total FDI. High-tech manufacturing especially benefited, with its FDI remaining robust between January and June, growing 11.1 percent year-on-year to 34.97 billion yuan.