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China said earlier this year it aims to build a 1 trillion yuan (7.9 billion) AI core industry by 2030, which is supposed to stimulate as much as 10 trillion yuan in related business.

China will continue its prudent and neutral monetary policy and improve coordination with other related policies to facilitate supply-side structural reform, according to the third quarter monetary policy implementation report released by the People's Bank of China.

China kicked off the commercialization of 5G services on Oct 31, with China Mobile and two of its smaller rivals rolling out their 5G data plans. In just 10 days since then, Beijing has accumulated more than 40,000 5G subscribers.

China released a three-year action plan earlier this month to restore hog production in a bid to stabilize the supply of the country's staple meat, aiming to send its hog production capacity to normal levels in 2021.

China urged India on Wednesday to immediately stop all provocations and withdraw its troops that illegally crossed the Line of Actual Control in the western sector of the China-India boundary.