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At the end of June, the balance of domestic corporate loans and advances of the bank were 6.85 trillion yuan, up 5.36 percent from the end of 2018.

At the meantime, Chinese investment in the US is growing rapidly. According to a report published by the National Committee on United States-China Relations and Rhodium Group, in 2016, Chinese enterprises invested .6 billion in the US, a 200 percent increase from the previous record set in 2015.

At the same time, the VAT threshold on small-scale taxpayers will be raised from 30,000 yuan to 100,000 yuan of monthly sales.

At the event, the Shenzhen municipality government and Huawei announced Shenzhen Intelligent Twins. The project aims to build an integrated deep learning system for citywide coordination, enabling a smart city that is perceptive, conscious, evolvable, and familiar. This will turbocharge the intelligent transformation of Shenzhen to new levels, Huawei said. The event was also attended by China University of Petroleum and China FAW Group, with their success cases of Intelligent Twins for the oil and gas industry and manufacturing.

At the same time, the program is set to help carmakers' bottom line by boosting demand for pricey new models.