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China's service trade deficit has seen a rising trend in recent years. Last year, the deficit was 1.62 trillion yuan (about 3 billion).

China's producer price index, which measures costs for goods at the factory gate, rose 3.1 percent year-on-year in March, down from a rise of 3.7 percent recorded in February, as growth in factory prices of production materials and consumer goods both moderated, said Sheng.

China’s aviation and real estate conglomerate HNA Group Co has increased its stake in Deutsche Bank AG to 9.92 percent, overtaking Blackrock as the biggest shareholder, Bloomberg reported on Wednesday.

China's top banking and insurance regulator said it supports banking and insurance institutions to conduct business cooperation with Ant Group in accordance with laws and regulations, to better support the development of the real economy, Financial News reported on Friday.

China's ratio of R&D expenditures to business revenues was 2.27 percent during that period, which is quite high but still lower than many other major economies, he said in an interview. "It means there's still much room for China to further increase its R&D expenditures."