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China's growth, on the other hand, has been revised upward from October by 0.2 percentage point to 6 percent for 2020 due to the recent US-China trade breakthrough.
China's latest policies on recycling scrapped motor vehicles are to take effect from September, according to the Ministry of Commerce, and they are expected to help create a market worth a 100 billion yuan (.39 billion) to sustainable development of the automobile industry.
China's economy expanded 6.8 percent year on year in the first half of this year, above an annual target of around 6.5 percent.
China's economy is growing at a trend rate of 5.5 percent, primarily due to the post-pandemic reopening rather than fiscal thrust or accelerated credit creation, Mehran Nakhjavani, emerging markets strategist and partner at research firm MRB Partners, said in a report.
China's internet data services, including data center and cloud computing businesses, realized 11.62 billion yuan (.67 billion) in revenue in 2019, an increase of 25.6 percent from a year earlier, People's Daily reported on Wednesday, citing a report from the China Academy of Information and Communications Technology.
