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China's central bank governor Yi Gang said during the 10th Lujiazui Forum in mid-June in Shanghai that the average lifespan of a Chinese SME is only about three years.

China's GDP growth is expected to stabilize at 6.2 percent during the first six months of this year, before rebounding in the September-to-December period to reach 6.3 percent whole-year growth, data from the country's leading think tank, the Chinese Academy of Social Sciences (CASS) showed on Monday.

China will extend the second round of rural land contracts by another 30 years upon their expiration, Li said, stressing the role of reform and innovation in building powerful new growth drivers for rural development.

China will fight "at any cost" and take "comprehensive countermeasures" if the United States continues along its unilateral, protectionist path, a spokesperson with the Ministry of Commerce said Friday.

China's central authorities announced a special campaign against organized and gang-related crimes in early 2018.