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By the end of 2017, the sales of Metro's own brands contributed to 14 percent of the company's total turnover in China, which was much higher than the industry average of 6 percent in the country. Metro's own brands will account for 20 percent of the company's annual sales in China by 2020, Chen said.

Bytedance, best known for its mobile news aggregator Jinri Toutiao, which translates into "Today's Headlines", and short video app Douyin, each of which boasted over 100 million daily active users, is one of China's hottest tech startups.

CHANGCHUN - Volkswagen Passenger Cars brand sold 3 million vehicles in the Chinese market as of Wednesday, breaking an all-time high in a single year, the company said Thursday.

CHANGSHA —  China will export 20 hybrid shunting locomotives to Germany, according to the exporter CRRC Zhuzhou Locomotive Co Ltd on Saturday.

By the end of May, the debt to asset ratio (the measure of leverage levels) of China's major industrial enterprises was 56.1 percent, down by 0.7 percentage point from a year ago, according to the National Bureau of Statistics.