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China's internet availability rate reached 55.8 percent, exceeding the global average by 4.1 percentage points, according to the report released by the China Internet Network Information Center (CNNIC).

China's financial regulators have tightened rules for bond trading, a move that may exert short-term selling pressure on the bond market but will help reduce excessive leverage and curb risks in the country's financial system, analysts said.

China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development. This is a pivotal stage for transforming our growth model, improving our economic structure, and fostering new drivers of growth. It is imperative that we develop a modernized economy. This is both an urgent requirement for getting us smoothly through this critical transition and a strategic goal for China's development. We must put quality first and give priority to performance. We should pursue supply-side structural reform as our main task, and work hard for better quality, higher efficiency, and more robust drivers of economic growth through reform. We need to raise total factor productivity and accelerate the building of an industrial system that promotes coordinated development of the real economy with technological innovation, modern finance, and human resources. We should endeavor to develop an economy with more effective market mechanisms, dynamic micro-entities, and sound macro-regulation. This will steadily strengthen the innovation capacity and competitiveness of China's economy.

China's headline growth has stabilized due to housing investment picking up over the past few quarters. However, the leading housing investment, and housing prices, indicate that the property sector is likely to experience a deceleration in the second half of this year.

China's electric vehicle maker BYD was a major part of the largest order of electric buses in American history.