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China's flagship trade event looks to engage exporters amid pandemic

China's foreign exchange reserves, however, unexpectedly increased in July to .12 trillion despite the recent weakening of the renminbi, which will help stabilize investor expectations and anchor the renminbi, said Guan Tao, former director of the international payments department of the State Administration of Foreign Exchange.

China's government reasserted the importance of manufacturing in the Oct 28-31 Fourth Plenary Session of the 19th Communist Party of China Central Committee - especially calling for modernization of the industrial chain and of applying science and technology to upgrading of the manufacturing sector. And, during a visit in September to the Zhengzhou Coal Mining Machinery Group Co, President Xi Jinping underlined the importance of developing the real economy through bolstering manufacturing to enhance high-quality economic growth. Xi said that while China has the world's largest manufacturing industry, efforts are still needed in realizing industrial transformation and upgrading through technical and industrial innovation to move the nation's manufacturing up the industrial chain.

China's inter-bank bond market has been promoting opening-up in recent years. So far, a total of 473 overseas investors have entered the market, with a total investment of more than 800 billion yuan.

China's economy must accelerate its upgrade, adjustment and innovation, Li said. "Today we are in a metabolic transition, and it's also the 'growing pain' of the Chinese economy."