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"China safeguards a multilateral trade system. Lowering auto import tariffs is a major step to expanding reform and opening-up," the Ministry of Finance said.

"Consumer stocks have shown positive signals this year so far," said Wu Wenjie, a senior analyst at Bohai Security's Wangjing branch. "Among them, leading shares such as Wuliangye and Midea reached record highs. As these stocks are linked to people's lives, and with corporate annual reports around the corner, the surging prices of consumer stocks would attract a huge amount of public attention."

"Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent," the statement said.

"Chinese investment is helping the UK develop infrastructure and create jobs. Nearly 50,000 British businesses import goods from China, while more than 10,000 sell their goods to customers here," she said.

"China's AI industry is rising and has unlimited development potential. This partnership allows IBM to bring our cloud and AI technologies and industry expertise to Chinese industries and innovative startups," said Liming Chen, IBM Greater China Group chairman.