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China has huge potential in new infrastructure and the country welcomes South Korean companies to take an active part in the construction of information infrastructure, integrated infrastructure and innovative infrastructure, said Chinese ambassador to South Korea Xing Haiming at an online seminar attended by South Korean companies.

China cut its benchmark lending rate on Thursday to spur production and mitigate impact of the novel coronavirus outbreak on some fragile sectors, even as experts suggested that stronger and cheaper credit supply will help reverse an economic slowdown.

China has long been bedeviled by officials using their expenses accounts to travel in the name of official visits, use work vehicles on personal errands, and enjoy luxurious receptions and accommodation.

China has also invested more than 20 billion yuan (about 3.06 billion U.S. dollars) and implemented 37,600 scientific and technological projects to support poor areas to transform momentum of development, improve production efficiency and improve people's lives, Xu said.

China has become the fastest-growing market for the best-selling copyrighted book of all time. Over the past five years, GWR has enjoyed an annual growth rate of between 10 and 15 percent in China, a contrast to its global growth which is only around 2 percent. In 2017, upwards of 2,000 out of the 50,000 applications received by the company came from China.