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Dai Shugeng, an economics expert and professor of finance at Xiamen University, said that the president's speech no doubt offers great encouragement for private business owners, amid concerns that private companies are becoming less important in China's market.

Dai Li, an inspector with the Shanghai police, said they received a tip from Dubai police and started an investigation. They soon zeroed in on two suspicious companies, one registered in Hong Kong and the other in Guangzhou.

Daimler and rivals from Volkswagen AG to Toyota Motor Corp are seeking a foothold in the transport services that are changing the way consumers use vehicles. China, the world's biggest auto market, may end its near-three-decade growth partly because consumers are moving from owning to sharing, according to Russo and other analysts.

Data from the central bank showed that in June, the average borrowing cost for China's small and micro enterprises, which were each granted less than 5 million yuan of loans, was 6.42 percent, 0.13 percentage points lower than the end of last year.

Data from the SAR government showed that business receipts of the food services industry decreased 4.6 percent from the first quarter to the second.