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China's finance minister Xiao Jie and his Russian counterpart Anton Siluanov co-chaired a bilateral meeting on the sidelines of the second BRICS finance ministers and central bank governors meeting.

China's overall leverage ratio is still growing, but at a slower pace. Overall leverage was 257.8 percent of GDP at the end of the first quarter of 2017, slightly up from 257 percent at the end of 2016. The non-financial corporate leverage ratio declined to 165.3 percent at the end of March from 166.3 percent at the end of 2016, according to BIS.

China's consumption growth and e-commerce development contributed to a rise in consumer loans, which in turn fed consumption-related ABS issuance growth.

China's environmental watch-dog found 484 violations by 177 companies in the first three days of a monthlong campaign targeting pollution caused by processing imported waste.

China's new rules regarding the procedure to approve new Sino-foreign auto joint ventures will take effect on Jan. 10. The streamlined measures will further shift the longstanding practice of checking and ratifying for the administration of auto joint ventures to the management mode of filing for record or registration only.