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China's economy has been transiting from a phase of rapid growth to a stage of high-quality development, Xi said in his report at the opening session of the 19th National Congress of the Communist Party of China (CPC).

China's official statistics show, however, Chinese investors made .27 billion of non-financial outbound direct investment in nearly 4,000 overseas enterprises in 152 countries and regions from January to July. It marked a 14.1 percent increase from the same period a year ago.

China's economy grew at an annual rate of 6.9 percent in the first three quarters of this year. Final consumption accounted for 4.4 percentage points (64.5 percent) of that growth, with the rest coming from investment and net exports, according to the National Bureau of Statistics.

China's foreign trade rebounded sharply in June as recovery in the country gained traction aided by government stimulus which stoked demand for commodities while exports, fueled by medical goods, also rose.

China's largest coal miner Shenhua Group and energy producer China Guodian Corp, which are mulling a merger, have extended suspension of trading in their shares for the fifth time.