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China's overall leverage ratio is still growing, but at a slower pace. Overall leverage was 257.8 percent of GDP at the end of the first quarter of 2017, slightly up from 257 percent at the end of 2016. The non-financial corporate leverage ratio declined to 165.3 percent at the end of March from 166.3 percent at the end of 2016, according to BIS.

China's integrated circuit design and software enterprises will benefit from a new tax-free incentive policy, according to a statement by the Ministry of Finance and State Taxation Administration on Wednesday.

China's electric bicycles have gained in popularity in the global markets in recent years thanks to their good quality and technological edge, and the domestic sector has not received any subsidies from the Chinese government, said Zhao Ying, a researcher at the Beijing-based Institute of Industrial Economics, which is part of the Chinese Academy of Social Sciences.

China's cross-border e-commerce sector has been growing rapidly over the past few years, owing to a rapid growth in the nation's middle and high-income shoppers.

China's online retail revenue reached 2.2 trillion yuan in the first quarter, down 0.8 percent year-on-year, according to the National Bureau of Statistics. Products sold online accounted for 23.6 percent of China's total consumer product consumption, 5.4 percentage points higher from the same period of last year.