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Authorities should continue to optimize the range of government investment and treat all investors equally, said the guideline. Also, they should further cut corporate burdens, improve public services and increase fiscal support for the private sector.

BAIC started making offroad vehicles in the 1960s and was the first SUV producer in the country. Today, the company's SUV lineup includes the BJ20, BJ40 and BJ80 and their variants, retailing from 150,000 yuan to 350,000 yuan (,850 to ,000).

Authorities of host cities have been striving to create the necessary infrastructure for the 2022 Games. Private and foreign investors are also tapping into the snow economy, as they foresee the Games are going to bring about robust growth of the business.

BEIJING - China announced on Sunday that it will temporarily adjust the implementation of five administrative regulations in the pilot free trade zone (FTZ) of the southernmost province of Hainan to support its all-round reform and opening up.

Average new home price in the cities rose 3.98 percent year-on-year in May, with the pace of increase decelerating from a rise of 4.27 percent registered in April, according to a survey released by the China Index Academy (CIA), a property research institution.