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Chinese central government-run State-owned enterprises have undertaken 3,116 projects under the Belt and Road Initiative, which range from infrastructure construction to international cooperation on production capacity, People's Daily reported on Monday.

Chinese companies paid the relocation cost and offered at least doubled salaries, he said. He also admitted that the benefits of living in the San Francisco Bay Area were its "nice weather" and "better education for children".

Chinese laws have rules against securities-related crimes, "but they sometimes lack details that make it hard for judges to solve new securities problems, such as those receiving illicit gains by using undisclosed investment-related messages," Li said.

Chinese dairy brand Yili has jumped five places to No 3 in a ranking of the world's top 50 food brands released on Tuesday by Brand Finance, a London-based brand valuation consultancy.

Chinese home appliance maker Skyworth Group plans to build three manufacturing bases in South America, North Africa and the Middle East regions in the coming two to three years as it strives to expand its global footprint amid growing saturation in the domestic market.