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China's breakthrough in high-power fiber laser is also proving to be lucrative.

China's central bank has expanded credit resources for commercial banks, to boost lending to small-scale and private businesses, with the policy going in an opposite direction to some major economies' monetary tightening.

China's NEV market has been growing rapidly thanks to government support. Central and local officials have rolled out policies including offering subsidies and encouraging the construction of charging stations.

China will formulate rules and regulations on industrial information security as the country is speeding up the safe use and sharing of data to bolster industrial competitiveness, a top industrial official said on Saturday.

China's Ministry of Commerce (MOC) Tuesday expressed "grave concerns" about a memorandum signed by US President Donald Trump to direct US trade representative Robert Lighthizer to examine China's intellectual property practices.