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Chinese mobile carriers are setting up a string of cross-industry partnerships as the global telecom industry enters the final sprint toward the commercialization of fifth-generation mobile communication technology.

Chinese economy continues to make progress in rebalancing, with consumption and services sector maintaining relatively fast growth, said Ayhan Kose, director of the Word Bank's Development Economic Prospects Group, in a teleconference on Tuesday.

Chinese bike-sharing giant Mobike Technology Co Ltd announced on Monday it would roll out its services in Australia as part of a bid to expand its overseas presence, faced with mounting competition from its rival Ofo Inc outside China.

Chinese companies invested in 2,170 overseas enterprises in 129 countries and regions in the first three months, said the statement posted on the MOC website.

Chinese e-commerce giant JD reported its net revenue for the third quarter of 2019 reached 134.8 billion (.9 billion), an increase of 28.7 percent from the same period last year, while net profits surged 160.6 percent year-on-year to 3.1 billion yuan.