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Credit structure has shown positive change, the statement noted. Outstanding loans to small and micro businesses jumped 14.4 percent year-on-year to 27.8 trillion yuan ( trillion) in the first quarter, while agriculture related loans rose 8.9 percent to 29.2 trillion yuan.

Customers check out Xiaomi's products at one of its outlet stores in Shanghai. [Photo by Zhang Chenzhuo/For China Daily]

Crimes committed by both types of drivers when providing services concentrate on intentional injury, traffic offenses, and rape. More cases related to taxi drivers took place in the car, while more cases related to Internet ride-hailing services occurred at locations along the route.

Crow expressed similar concerns. "Capital expenditure in the US is waning. The trade tensions are cutting off the short legs of what was already an etiolated demand. Beyond manufacturing, services PMI is waning in the US," she told Xinhua.

Crucially, it will be available to banks and asset managers, so they can create derivative products, such as a fund that tracks the index, which has not yet been formally named.