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China will ratchet up efforts to commercialize 5G communication technology and welcomes foreign enterprises to join the process as part of the country's push to expand opening-up policies, the top industry regulator said on Tuesday.

China's central bank has raised its re-lending quota by 50 billion yuan (.3 billion) to boost financial support for small and micro firms and private businesses.

China's State Council announced further measures to support "Made in China 2025", a plan to transform China from a manufacturing giant into a world manufacturing power, on Wednesday, according to Xinhua.

China's 13th five-year development plan said that the country should "take steady steps to build international cruise terminals" during 2016-2020, amid the overall efforts to further propel tourism as one of the pillars of the country's strategic industries.

China's auto market, hit hard by COVID-19, began to recover in April thanks to unleashed pent-up demand and supportive policies, with sales rising 4.4 percent year-on-year, ending a 21-month contraction streak, according to the China Association of Automobile Manufacturers.