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China's GDP expanded 6.9 percent year-on-year to 59.3 trillion yuan in the first three quarters, holding steady from a 6.9-percent growth in the first half despite a slightly slower 6.8-percent increase in the third quarter, official data show.

China would also likely stop or reduce its purchases of dollar-denominated assets, especially US Treasury bills, meaning that China (and Japan) will no longer provide the financing of the US budget and trade deficits.

China's artificial intelligence papers cited by third parties grew to some 90 percent of that of the United States, a sign that it's catching up in hard science, the report noted.

China's car parc - the number of cars and other vehicles used in a region or market - is far lower than that of the developed countries. In the medium and long term, China's population, economy and residents' income will keep increasing, so there is still room for growth, he added.

China's GDP expanded 6.9 percent year-on-year to 59.3 trillion yuan in the first three quarters, holding steady from a 6.9-percent growth in the first half despite a slightly slower 6.8-percent increase in the third quarter, official data show.