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China, on the other hand, has huge market appeal thanks to its large scale and a growing middle-income community. China's social retail sales are catching up with the United States, Wang said.

After nearly three years' efforts, the team has made breakthroughs in major core technologies of the high-speed maglev trains and achieved important initial results in the sub-systems, including the locomotive vehicle, traction and operational control communication, said Ding.

"We have noticed that the Office of the U.S. Trade Representative had made an announcement saying related goods exported from China to the United States prior to May 10 will remain subject to an additional 10-percent tariff if they enter the United States before June 15, 2019," said the office in a statement.

BEIJING, May 19 (Xinhua) -- China's central bank official said Sunday that the country's foreign exchange market and the exchange rate of Chinese currency renminbi, or yuan, would remain stable due to sound economic fundamentals.

"Job-seeking graduates are still making positive progress," said the report, which surveyed a total of 88,150 graduates, citing diverse tendencies of the job seekers.