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China's benchmark Shanghai Composite Index edged down to 3,091.66 points on Monday from 3,135.92 points on January 3, the first trading day of this year. Chinese companies have also faced higher costs when issuing corporate bonds in recent months.

China will step up efforts to promote the development of artificial intelligence technology as electronic gadgets are becoming increasingly smart and the sector is in need of new growth engines, a senior official from the Ministry of Industry and Information Technology said.

China will inject around 10 billion yuan (.52 billion) over the next three years to support the development of industries involved in the Made in China 2025 strategy, a blueprint for upgrading the country's manufacturing sector, the Economic Information Daily reported Thursday.

China will send destroyers, frigates, supply ships and submarine rescue ships to the exercise, according to Ren.

China will provide .39 billion or nearly 109.50 billion taka in loans to the project, of which 15 percent will be concessional loans and 85 percent will be preferential buyer's credit.