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China's economy shrank by 6.8 percent year on year in the first quarter (Q1) of this year as the novel coronavirus epidemic deals a huge blow to economic activity.

China's fixed asset investment is set to stabilize this year, as mining, middle and high-end manufacturing and other fields are likely to be popular investment targets, according to the country's top economic regulator.

China's home appliance sector saw a strong rebound during the second quarter of this year, with total revenue rising by 2.64 percent on a yearly basis to 248.6 billion yuan (.6 billion), on the back of a healthy surge in online e-commerce retail, a new report said.

China's largest electric car maker BJEV is championing the battery swap service as reduced government subsidies, long charging times and battery-induced fire accidents are discouraging potential buyers in the world's biggest new energy vehicle market.

China's forex reserves rose for 11 months running to .14 trillion at the end of December last year, as the economy got on a firmer footing and the government stepped up regulation of illegal capital transfers and overseas investment.