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Compared with brick-and-mortar financial institutions offering face-to-face investment consultation, intelligent asset management features the utilization of cutting-edge technologies such as cloud computing, machine learning and big data in financial products and services, aiming to improve operation efficiency and customer experience, the report said.

Commercial banks bought 999.5 billion yuan (about 8.1 billion) worth of foreign currency in June, and sold 1.14 trillion yuan, resulting in a net forex settlement deficit of 142.5 billion yuan, according to the administration. The deficit for the first half of the year fell 46 percent year-on-year to .8 billion.

Comparing high-end wine brand Lafite to luxury label Louis Vuitton, the Frenchman said that his winery would be the equivalent of an independent designer whose products are coveted by a small but passionate following.

Combined revenue of the sector's major companies, whose annual revenue was five million yuan (3,500) or above, reached 4.22 trillion yuan during the January-June period, up 9.9 percent year-on-year, according to the National Bureau of Statistics (NBS).

Confident Trump