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Baidu is just one of several Chinese tech firms that have opened autonomous taxi services to the public in the country. In November, self-driving startup WeRide launched a trial run of autonomous taxis in a 145-square-kilometer area of Guangzhou, Guangdong province. Passengers can order taxis via its app and experience a driverless journey.

Bai Chong'en, director of the National Institute for Fiscal Studies at Tsinghua University, pointed out that profits for businesses in China had increased considerably in the first half of 2017 and had equipped them with a stronger debt-paying ability, and S&P's downgrading decision should have also taken this fact into account.

Based on data collected between April 1, 2017, and Jan 12, the A-type work permit for high-end personnel accounts for 11 percent of all permits nationally, he said.

Based in Foshan, which neighbors Guangzhou, Midea has over 200 subsidiaries, 60 branches and 10 strategic partners around the globe.

Banks are running safely and soundly with risk resistance improved and their capacity to serve the real economy strengthened, the CBRC said.