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China will step up cooperation with African countries and will jointly advance the Belt and Road Initiative to help Africa address challenges of maintaining peace and security and promoting development, Foreign Minister Wang Yi said on Thursday.

China's GDP growth reached 6.9 percent in the second quarter of this year, and it may ease moderately in the second half, but there would not be any "hard landing", he said. "Economists generally agree that the Chinese economy has dropped to the lower band of the L-shaped trajectory; I think it is still possible that growth may continue to fluctuate and even further drop a little bit, but there would not be the danger of an economic hard landing."

China's central bank decided on Wednesday to inject more than 800 billion yuan (5 billion) into the financial sector by reducing the amount of cash financial institutions must keep in reserve. The move is designed to maintain "reasonably ample" liquidity and lower financing costs for the real economy.

China's Nasdaq-style high-tech board known as the STAR Market has provided a more inclusive financing platform for the country's high-tech innovation companies since its opening in July. There were 70 companies listed on the STAR Market last year, raising total funds of 82.4 billion yuan. The proceeds accounted for 32 percent of the total fundraising of the A-share IPO market, according to data released by PwC.

China's GDP growth stood at 6.8 percent in the third quarter and 6.9 percent in the first three quarters, higher than market expectations.