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China's high-end ride hailing company UCAR Technology Inc has led a 2.2 billion yuan investment in the fledging electric carmaker Xpeng Motors, the two announced on Monday.

China's foreign trade in July, though slower than expected, still achieved double-digit growth, as the country maintains steady demand for foreign commodities and continues to diversify its trading with various partners.

China's outbound direct investment in BRI economies reached 7.31 billion during the period. By the end of 2019, ODI stock was 9.47 billion, or 8.2 percent of China's total.

China's financial opening up can be seen as part of the country's efforts to honor its commitments to the World Trade Organization, as well as a move that enables it to integrate with global markets, Lin said, adding that the pace was quicker than expected and the progress was "universally recognized."

China's overall leverage ratio is still growing, but at a slower pace. Overall leverage was 257.8 percent of GDP at the end of the first quarter of 2017, slightly up from 257 percent at the end of 2016. The non-financial corporate leverage ratio declined to 165.3 percent at the end of March from 166.3 percent at the end of 2016, according to BIS.