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China's first middle-to-low speed maglev rail line started operation in May 2016 in Changsha in Central China's Hunan province, making China one of the first countries to master such technology.

China's integrated circuit design and software enterprises will benefit from a new tax-free incentive policy, according to a statement by the Ministry of Finance and State Taxation Administration on Wednesday.

China's economy "remains strong despite the growth slowdown in recent years," said ADB Chief Economist Yasuyuki Sawada, adding that favorable fiscal reforms at the start of the year, particularly on personal income tax and social security, will help alleviate the adverse effects of anticipated weaker wage growth and boost domestic consumption.

China's investments in building infrastructure even in remote areas may appear uneconomic to outsiders, but it has been an essential way of providing opportunities to hundreds of millions of people.

China's economy grew 6.8 percent in the first quarter of 2018, slightly faster than expected, buoyed by strong consumer demand and surprisingly robust property investment.