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China's modest 2020 military budget growth is "reasonable and necessary" to address security issues both at home and abroad, while striking a balance with the nation's economic development, senior colonel Wu Qian, spokesman of the Ministry of National Defense, said on Tuesday.

China's foreign exchange reserves grew for a sixth consecutive month in July, as a stronger yuan and strengthened oversight over outbound investment helped curb capital outflows.

China's gaming industry is suffering its slowest revenue growth in a decade, as local regulators had tightened their grip on a market. Experts think the market is reaching a saturation point.

China's local government debt soared during an investment and construction binge following the 2008 global financial crisis. Well aware of the risks, authorities have taken an array of measures to reduce the local debt burden.

China's first domestically designed aircraft carrier embarked on its second sea trial on Monday from its shipyard in Dalian, Liaoning province.