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China's capital intensity ratio was 1 percent in 2001, and as of 2016, it was 18 percent, marking an 18-fold growth. Now, with overcapacity, and excess inventory and capital, China should go global supported by capital accounts, facilitating outflows of the renminbi through overseas investment and export of capital. Meanwhile, China should bring back the renminbi by exporting industrial products. Then, a full circulation cycle of the yuan will be completed.

China's National Development and Reform Commission released a blueprint in January that outlined the country's plan to push self-driving technologies forward. China expects smart cars, with partially or fully autonomous functions, to account for 50 percent of new cars in the nation by 2020.

China will enhance cooperation with Central and Eastern European countries under the Belt and Road Initiative during Premier Li Keqiang's upcoming visit to the region, senior Chinese officials said on Tuesday.

China will strengthen international cooperation to maintain the stability of the global automobile industrial chains and supply chains and blunt the adverse impact of the ongoing pandemic on the whole industry, Liu said.

China's cargo throughput has increased for three consecutive months, according to Yi Jiyong, deputy head of the Water Transport Bureau under the Ministry of Transport on July 10, Yicai.com reported.