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China will select 10 centrally-administered State-owned enterprises as the second batch of pilot State-owned capital investment and operating companies to optimize capital use via diversified forms of operation, the country's top regulator for State assets said on Monday.

China's central bank announced in August a plan to reform the LPR mechanism to better reflect market changes in its latest move to guide borrowing costs lower to support the real economy.

China will “absolutely not” fire the first shot in a trade war with the United States and will not be the first to levy tariffs, the Ministry of Finance said on Wednesday.

China's automotive market saw its first dip last year since 1990, and the China Association of Automobile Manufacturers expects sales this year to fall by around 5 percent from 2018. That means the country's automotive insurance businesses will also probably see a slowdown in growth.

China would make its efforts to ensure the success of the coordination meeting and inject new impetus to the development of China-Africa comprehensive strategic partnership, Geng said.