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China's additional refining capacity will come mainly from new private companies, including Zhejiang Chemical, China Risun Group Ltd and Shenghong Petrochemical, according to the 2021 edition of the annual China Energy and Chemicals Industry Development Report, published by the Sinopec Economics and Development Research Institute.

China will not use large-scale quantitative easing to bolster the economy and instead will boost market vitality through measures such as tax and fee cuts to stabilize economic growth and seek high-quality development, Premier Li Keqiang said on Friday.

China will roll out a new copper futures contract this week that will be open to foreign traders, in a push to boost yuan adoption and wrest some pricing power away from the established industry benchmark in London.

China's aggregate financing, including government and corporate bonds, increased by 5.16 trillion yuan in March, notching up a year-on-year growth rate of 11.5 percent compared with 10.7 percent in February. It was the fastest single-month growth in history, mainly due to the growing government and corporate borrowing, the PBOC said.

China's FAI remained basically stable in the first eight months of the year thanks to robust investment in infrastructure.