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Data from Shanghai-based E-house China R&D Institute showed average new home prices in China's 100 cities rose 11.3 percent in May from a year earlier and 0.7 percent month-on-month, to 12,514 yuan per square meter.

David Johnson, a reader of comparative and international education at the University of Oxford, said: "Any example of success, good performance elsewhere, is something any country should look seriously at.

Data from the General Administration of Customs showed that China's export value increased by 2.4 percent on a yearly basis during the first 10 months of this year, exceeding market expectations. But the value of the global trade in goods contracted by 14 percent on a yearly basis during the first six months, according to World Trade Organization estimates.

DUBLIN -- Ireland exported over 1 billion euros (about .18 billion) of goods to China in July, up 35 percent when compared with the same month last year, according to the latest figures released by the country's Central Statistics Office (CSO).

Dai also denied this report at an internal meeting on Wednesday, adding that the company's financial situation was getting better, although problems remained.