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China's property market remained stable in the first half of the year as local authorities tightened regulations to prevent speculative home purchases.

China’s trade with the European Union, the United States and countries of the Association of Southeast Asian Nations increased in 2018, customs officials said. Trade with these three main partners accounted for 41.2 percent of the country’s total volume.

China's top banking and insurance regulator announced on Wednesday it has recently allowed the wealth management subsidiaries of the country's two largest commercial banks by assets to open for business.

China's transition over the next 10 years will not be painless for its companies or for foreign competitors. But, reform and opening-up policies that create more competitive companies and markets are the only way to achieve a richer and more productive world economy in the long term.

China's software and IT service sector has witnessed rapid development during the past decade, especially in cloud computing and big data, thanks to Internet-based innovations and upgrades in traditional sectors.