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China's foreign exchange reserves in August totaled .09 trillion, increasing for the seventh consecutive month, central bank data showed on Sept 7.

China's domestic automobile brands have performed quite well in recent years, especially buses, trucks, small sport-utility vehicles and small multi-purpose vehicles. Sales of Chinese brands in 2016, which breached the 10-million barrier for the first time ever in that year, accounted for 43.19 percent of total vehicle sales in China. In addition, the country's electric vehicle output reached 500,000 in 2016, accounting for half the world's total production in that year.

China's financial institutions held State-owned assets totaling 241 trillion yuan by 2017, accounting for around 80 percent of the nation's total financial assets. They also had a total debt of 217.3 trillion yuan, according to the report from the ministry.

China's efforts to further reduce taxes, for businesses and individuals, will continually improve the country's tax environment if the significant progress made since 2017 is any indication, according to a World Bank Group report published on Tuesday.

China's electric vehicle startup Nio submitted supplementary files with the US Securities and Exchange Commission on Tuesday to lower its initial public offering target to .51 billion.