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Chinese actor-singer Wang Yuan poses for the fashion magazine. [Photo/Official Weibo account of Our Street Style]

Chinese machinery manufacturers' revenue is expected to grow 8 percent to 26.51 trillion yuan (.94 trillion) this year on the back of the Belt and Road, or B&R, Initiative, potentially reversing two years of export slowdown, industry officials said on Tuesday.

Chinese dockless bike-sharing company Ofo announced plans to put 150,000 of its cycles on London's streets as rival Mobike brought more of its bikes to the British capital on the weekend.

Chinese exporters have from 20 to 50 percent of the US market in other low-value-added markets, plus electrical machinery and equipment, mechanical appliances, and iron and steel. In most other categories, China has less than 20 percent of the US market.

Chinese banks reported that their aggregate net profit fell 9.4 percent year-on-year in the first half to 1 trillion yuan, the official data showed, especially due to higher expected credit losses and lower net interest margins related to the rate cuts of the People's Bank of China, the central bank.