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China's foreign trade expanded 4.6 percent year on year in October, with exports jumping 7.6 percent year on year and imports climbing 0.9 percent in yuan terms, China's General Administration of Customs (GAC) said in a statement.

China's modest 2020 military budget growth is "reasonable and necessary" to address security issues both at home and abroad, while striking a balance with the nation's economic development, senior colonel Wu Qian, spokesman of the Ministry of National Defense, said on Tuesday.

China's forex market is easily influenced by irrational expectations and spurred by inertia, due to a certain level of "pro-cyclicality," which distorts market demand and supply, and magnifies the risk of exchange rate overcorrection, the CFETS said in a statement.

China's consumer inflation picked up more than expected in August, mainly driven by food price increases because of seasonal factors.

China's economic growth pace has been one of the fastest among major economies, Ning said.