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China's new yuan-denominated loans stood at 885.8 billion yuan (2 billion) in February, a sharp fall from a record 3.23 trillion yuan in January, raising concerns about a further slowdown in the world's second-largest economy.

China's inbound tourism market has emerged from the downturn after the global financial crisis and increased continuously in the past few years, China National Tourism Administration (CNTA) said in a statement.

China's largest electric car maker BJEV is championing the battery swap service as reduced government subsidies, long charging times and battery-induced fire accidents are discouraging potential buyers in the world's biggest new energy vehicle market.

China's new energy vehicle market is set to reshuffle around 2020, which may wipe out some electric car startups, according to an industry think tank. But he said the segment's long-term prospects are bright.

China's industrial output accelerated and retail sales grew for the first time this year, beating analysts' forecasts.