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Consumer spending boosted the US economy in July, raising stocks on Thursday after Wednesday's 800-point and easing immediate fears of a recession.

Covering more than 17,000 square meters, the new facility produces high-technology filtering systems to meet the demands of local car manufacturers. This includes Chongqing-based Changan as well as Volkswagen's plant in neighboring Sichuan province.

Construction has started on the third high-speed railway connecting Nanjing, capital of Jiangsu province, with Shanghai that will halve travel times between Shanghai and cities in the southern part of Jiangsu, according to Jiangsu Railway Group.

Consumers throng the Haitang Bay duty-free shop in Sanya, in the island province of Hainan. [Photo by Sun Qing/Provided to China Daily]

Consumption of gold jewelry in China went down 8.16 percent from a year earlier to 676.23 tons, while gold consumption for industrial and other uses stood at 100.75 tons, down 4.9 percent year-on-year, according to data released by China Gold Association.