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China's economy, despite headwinds, has enjoyed a good start in the first quarter of 2019, and the country has the confidence to achieve the annual projected growth goal, said the country's top economic planner.

China's national observatory renewed blue alerts for rainstorms and severe convective weather, which is characterized by strong winds, hail, thunderstorms and brief but heavy rainfall, for the 24 hours starting from 2 pm on Thursday.

China's consumer price index, a main gauge of inflation, rose by 2.1 percent in July from a year earlier, beating market expectations, according to data from the National Bureau of Statistics.

China's first two batches of SOEs to implement ownership reforms were mainly administered by central government, such as China Eastern Air Holding Company and China Southern Power Grid.

China's latest move to lower the regulatory requirement on the ratio of allowance for loan impairment losses to nonperforming loans will encourage commercial banks to classify bad loans more accurately and to step up the disposal of distressed debt, researchers said.