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China will introduce a "code of conduct" for outbound investment to provide better guidance on risks to companies investing overseas, after efforts to curb irrational investment have started to take effect, people familiar with the matter said.

China's SOE numbers are down from 117 five years ago with the restructuring of central SOEs to improve efficiency and competitiveness. Reforms included changing shareholding structures, spinning off noncore assets and boosting innovation.

China's Geely Auto trimmed its sales goal for the year on Monday as the coronavirus pandemic has hurt the financial performance of the Hong Kong-listed carmaker.

China will hold the second summit on digital development from May 6 to 8 in Fuzhou. This year's summit aims to serve as a platform for people at home and abroad to cooperate and contribute to digital China.

China will prevent roller-coastering in its booming new energy vehicle market as the country is slated to cut its subsidies again in 2019 and stop them by the end of 2020, said Miao Wei, minister of industry and information technology on Saturday.