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Combined profits surpassed 1 trillion yuan (about 8 billion) for the January-April period, up 18.4 percent from one year earlier, according to the Ministry of Finance.

Companies will be subject to a national security review if they are investing in certain “sensitive industries,” according to the Ministry of Commerce.

Confucian studies platforms have been built at many universities including Peking University, Tsinghua University and Renmin University of China. In addition, 27 cities, regions and provinces including Beijing, Shanghai and Zhejiang province have built provincial-level and national-level Confucian studies organizations.

Concerns related to trade frictions and slowing global growth are also denting appetite for high-risk financial products, according to experts.

Commenting on Moody's and S&P Global Ratings' downgrade of the country's sovereign credit rating, the ministry said it was a misreading of the sound economic fundamentals and development potential, while international investors will have an objective evaluation of the country's sovereign credit situation.