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China will remove foreign ownership restriction in the securities, fund management and futures business next year, meaning that foreign financial institutions can have 100 percent control of their business entities in China.

China's air cargo industry is undergoing a shake-up as major players, driven by growing market potential, seek to strengthen their positions.

China's automotive industry is suffering from a downturn in the overall vehicle market, with two-thirds of the country's listed carmakers seeing falling profit in the first half of the year.

China will reduce the tariffs on soybean imported from India, South Korea, Bangladesh, Laos, and Sri Lanka from the current 3 percent to zero. Imported products such as chemicals, agricultural products, medical supplies, clothing, steel and aluminum products from these countries will also enjoy certain tariff reductions.

China will take more concrete steps to further its supply-side structural reform and push for high-quality development in 2018, focusing on cutting overcapacity and fostering new growth drivers in the real economy, said officials and analysts.