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China will not forget the support from Italy when the country was at its hardest moment in the fight against the virus, Wang said, adding that China is now willing to stand firmly with the Italian people as well.

China's biggest internet companies are building the infrastructure to support big data, particularly through the proliferation of mobile payments and growing cloud-computing operations, Bloomberg Intelligence (BI)'s latest report on China's retail industry.

China will step up efforts to boost high-end and intelligent equipment manufacturing, and accelerate innovations in sensor and control system as well as industrial software to upgrade the country's traditional industries, said Xin Guobin, vice-minister of Industry and Information Technology.

China's biggest online marketplace for long-haul deliveries is in advanced negotiations with new and existing backers, including SoftBank Group Corp and Tencent Holdings Ltd, on a funding round that could hike its valuation by as much as 40 percent to billion, the people said, requesting not to be named discussing private deals.

China's 10-year treasury bond futures open higher on Aug 14, 2020. [Photo/Sipa]