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China's economic resurgence and strong global standing have also stoked pride and interest in Chinese culture, values and traditions among the millennials, weaning them off the urge to copy or revere all things Western, especially Western brands, according to a survey.

China's national weather observatory continued a yellow alert for rain on Saturday, with more heavy rain expected across the country in the next few days.

China's coal and power industries are expected to see more mergers in the second half of the year, due to State-owned enterprise reform policies, industry insiders believe.

China's economy expanded at a 6.9-percent pace in the first quarter, accelerating from 6.8 percent in the previous quarter, and 77.2 percent of it was driven by consumption, 12.6 percentage points higher than the 2016 level, according to official data.

China's market regulator put an interim version of the regulations into effect on April 1, 2016.