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China, Hungary and Serbia have also agreed to build a high-speed railway link between Budapest and Belgrade. They plan to start work on the project after the European Commission completes its approval procedure.

Chinese Ambassador to Saudi Arabia Chen Weiqing said, since the establishment of diplomatic relations between China and Saudi Arabia on July 21, 1990, the two countries have always respected each other's political systems and development paths, supported each other's core interests and major concerns, and promoted the deepening of bilateral relations.

China's service trade posted a deficit of 9.5 billion, up from 7.3 billion in H1. The spending on trips, transport and intellectual property rights contributed to the bulk of the deficit.

China's slow growth last year eroded Apple's sales of smartphones, but apps and smartwatches boosted revenue in the second half of the fiscal year ended in September. Investors will keep an eye on the impact of the coronavirus on sales and production in the coming quarter.

China's top legislature approved the establishment of the Shanghai Financial Court in April.