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And some major infrastructure projects had begun in the new area, including the construction of an intercity railway link with Beijing, which will cut the travel time between the two areas to 30 minutes from the current 80 minutes.

And for those who do, it usually takes hours to get a vehicle fully charged. Battery swap, in comparison, takes minutes.

Analysts said the foreign exchange reserves are expected to remain stable in the coming months, but cautioned on the need to improve the efficiency of money supply that has been injected into the economy to avoid capital outflow risks.

An's comment came after the US government informed Congress of its decision to sell weapons worth about 0 million to Taiwan on Tuesday.

Angel Gurria, secretary-general of the Paris-based Organization for Economic Cooperation and Development, said he has pinned high hopes on China's reform agenda, which is people-oriented to deliver a better life for millions. "Every year I have traveled to China two or three times, and I can tangibly feel the impacts of China's reform agenda," Gurria said. "I particularly feel impressed by China's poverty-reduction efforts, which have year-by-year targets."