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China's auto market, hit by COVID-19, began to recover in April thanks to unleashed pent-up demand and encouraging policies, with sales rising 4.4 percent year-on-year. This ended a contraction streak over the past 21 months, according to CAAM.

China's central bank in August announced a plan to reform the LPR mechanism to better reflect market changes in its latest move to guide borrowing costs lower to support the real economy.

China will deepen reform of smaller banks to strengthen their risk management capability and to enable financial institutions to better serve the economy, according to a meeting of the national financial authority.

China's banking sector will continue to see stable development this year but the banks may face slower profit growth and rising pressure on their asset quality, a report said on Wednesday.

China will encourage more services for toddlers to bolster support for families and meet growing public demand, according to a guideline published by the General Office of the State Council on Thursday.