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Chinese monetary policy will be targeted to better serve real economic growth and buffer economic downside risks next year, in order to avoid aggressive credit expansion, according to policy advisors.

Chinese purchases of olive oil rose by 17 percent during the first seven months of the 2016-2017 crop year, according to the Madrid-based World Olive Oil Exhibition (WOOE).

Chinese companies that are industry leaders have an increasing need to allocate resources and assets on a global level, and quick M&A approvals, especially removal of unnecessary administrative procedures, will help safeguard business secrets, and facilitate the implementation of international strategies, Song said.

Chinese container manufacturers have already extended the normal working hours from eight hours to 11 hours, and started making 300,000 twenty-foot equivalent units every month since September.

Chinese mainland students first took part in the tests in 2009, when students from Shanghai ranked top, and the city also claimed the top spot again in the 2012 PISA test, when students from the United Kingdom ranked 26 in math.