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China's leading property developer Vanke posted a 24.9 percent year-on-year increase in net profit in the first half of the year. [Photo/IC]

China's currency, the yuan, is convertible for trade purposes under the current account, while the capital account, which covers portfolio investment and borrowing, is still largely controlled by the state due to concerns over abrupt capital flows in and out of the country.

China's newly adopted Foreign Investment Law represents progress, as it gives all businesses a clear operating environment, president of Merck China Allan Gabor said during an interview at the China Development Forum on Saturday.

China's iron and steel business is scaling back on over production and clamping down on pollution.

China's exports of mechanical and electrical products grew 11.5 percent year-on-year to 857.51 billion yuan in January, making up 57.1 percent of the country's total exports.