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China's major bourses have promised to step up various efforts. Shanghai Stock Exchange said in a statement it will further reform and improve underlying institutions such as those for registration-based initial public offerings (IPOs), market exits, mergers and restructuring, and refinancing.

China's internet availability rate reached 55.8 percent, exceeding the global average by 4.1 percentage points, according to the report released by the China Internet Network Information Center (CNNIC).

China's national observatory issued a yellow alert Saturday for Typhoon Bailu, which is expected to bring gales and torrential rains to south China.

China's largest carmaker SAIC Motor said on Friday it is to export 2,500 MG and Maxus-branded vehicles to Australia, New Zealand and Fiji, as demand in Oceania grows for Chinese vehicles.

China's newly-introduced tax cuts and fee reductions have saved businesses 1.17 trillion yuan in the first half of this year, the STA said. The private sector has gained the most from the reforms, with 671.2 billion yuan of taxes reduced during the first six months.