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China's economic data in July, such as retail sales and fixed-asset investment, weakened compared with June, while its consumer price index rose to 2.1 percent in July, up from 1.9 percent in June, according to data by the National Bureau of Statistics (NBS). Recent rises in food prices in many parts of the country have triggered concerns that consumer inflation may strengthen further in August. The NBS is scheduled to release CPI data next Monday.

China's charging infrastructure providers－Qingdao Tgood Electric, State Grid Corp of China, Star Charge and China Southern Power Grid－joined hands to found a company focusing on NEV charging services, named Uniev, last year.

China's economic and financial market reforms, the Belt and Road Initiative, the rapid development of the new economy sectors, and RMB internationalization have all presented significant opportunities for JP Morgan and its clients, which have a long-term strategic approach to their business in the country, he said.

China's economy faces relatively heavy pressure due to difficulties and challenges caused by the intertwined structural, institutional and cyclical problems, which have been compounded by the COVID-19 outbreak, Xi said while joining political advisers from the economic sector at a panel discussion during the third session of the 13th National Committee of the Chinese People's Political Consultative Conference.

China's court system concluded 45,000 graft cases implicating 63,000 people in 2016, with 35 former officials at the provincial and ministerial level or above, and 240 at the prefectural level, convicted, according to the work report of the Supreme People's Court.