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Back in February, e-commerce titan Alibaba Group Holdings Ltd bought a 25 percent stake in Haier Multimedia for 657 million yuan.

Based on information in a guideline released by the State Council in July, the value of China's AI industry will exceed 1 trillion yuan (0.81 billion) by 2030.

Bai Hexiang, head of the PBOC's Guangdong branch, said the fund management agency could be authorized with the right to access banks' information, in order to recognize potential risks at an early stage, and to reduce the possibility of bankruptcy.

Based on technologies like big data, AI, intelligent equipment, and virtual manufacturing, the platform strives to satisfy various applications for both intelligent manufacturing and smart service.

Beans led the fall in vegetable prices by losing 6.8 percent, while cucumber and tomato prices dipped by 3.9 percent and 3.1 percent, respectively.