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China reports a stable trend in intellectual property development in the first half of this year. [Photo/Sipa]

China officially commissioned BDS on July 31, opening the new BDS-3 system to global users.

China spent 801 billion yuan on railway projects and put 3,038 km of new tracks into operation in 2017, exceeding its annual targets of 800 billion yuan of investment and 2,100 km of new lines, according to the China Railway Corporation.

China will continue to introduce all kinds of strategic investors, enhance management restructuring and business integration in SOEs in both centrally and locally-administered levels to boost their earnings capabilities, he said.

China unveiled a regulation on Wednesday to further improve its business environment and further open up its economy.