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China Foreign Exchange Trade System showed that, by the end of June, 1,961 foreign institutional investors have invested in the interbank bond market, which was introduced by the PBOC in 1997 and is the largest fixed-income market in China.

China aims to create bigger and stronger State-owned enterprises that are capable of competing globally, while phasing out excessive capacity in bloated sectors, according to the country's State-assets regulator.

China announced its intention in April to set up Xiongan New Area, a planned new economic zone of national significance to help phase out some non-capital functions from Beijing.

China also experienced a comparable trend of modernization. So, property companies' experience in the China market will likely give them a head start in those markets compared to competitors from developed countries, he said.

China Telecom reported drops in its profit and operating revenue in the first three quarters of this year. [Photo/VCG]