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China Telecom has spent 200 million yuan (.46 million) to roll out 1,300 base stations in Huanggang.

China International Capital Corporation predicted M2, a broad measure of money supply, is expected to grow by only about 9.6 percent in June year-on-year, the same as May. That level is significantly lower than those seen in recent years, which often reached 13 percent, arousing concerns from the financial markets.

China and Africa will continue to implement the outcomes of the Johannesburg Summit of the Forum on China-Africa Cooperation. The forum will be held in China this year and both sides have agreed to upgrade the meeting to a summit to push forward the solidarity and cooperation between China and Africa, he said.

China and Pakistan are all-weather strategic and cooperative partners as well as "iron friends", he said, adding that China has always attached great importance to their ties and both sides have maintained mutual trust over each other's major concerns.

China Merchants Bank has provided a 341 billion yuan fund for 1,186 clients involved in the initiative, which includes cross-border renminbi loans, bilateral bonds and equity investments.