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China's 22 percent growth in AuM elevated it to the fourth-largest global market, up from eighth place five years earlier. The partial opening-up and rapid growth of the Chinese market have created the conditions for a potential gold rush among foreign firms.

China's 2 trillion yuan (1 billion) tax and fee cut plan continued to pull down government income in October, pushing officials to expand non-tax revenue and maintain stable fiscal spending to support economic growth, according to the Ministry of Finance.

China's capital city of Beijing has upgraded its transportation to support the development of the night economy, Sina reported on Monday.

China will slash import tariffs for automobiles and vehicle components starting July 1 as part of its efforts to further open up the world's largest car market, the Ministry of Finance said on Tuesday.

China will continuously amend the negative list regarding foreign investment in the country and improve the mechanisms through which global investors can express their complaints to facilitate the implementation of the newly passed Foreign Investment Law, said a senior commerce official.