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China's national weather observatory issued a blue alert on Sunday, the lowest in a four-tier weather warning system, for rainstorms in the central and eastern parts of the country in coming days, after recent floods in Guangdong province brought direct economic losses of 39 million yuan (.7 million).

China's credit offtake contracted in February despite a faster growth in money supply as the novel coronavirus outbreak dampened consumption demand and delayed production, prompting experts to warn of inflation spikes in the absence of a quick rebound in economic activity.

China's insurance regulator said on Monday it will intensify regulation of outbound and real estate investment, a move to prevent valuation risks abroad and guarantee the stability of the nation's foreign exchange reserves.

China's investments in the overseas auto industry have totaled more than billion since 2008, according to the report. In the United States, Chinese companies now are hiring thousands of workers and manufacturing products from auto glasses to luxury cars.

China's foreign trade volume totaled 6.57 trillion yuan in the first quarter of this year, falling 6.4 percent year-on-year, data released by the General Administration of Customs showed on Tuesday.