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As onshore RMB-denominated bonds have been included into global major benchmark indices, such as the Bloomberg Barclays Indices, global investors are continually increasing their holdings of the onshore bonds, the administration said in a statement.

As part of the effort, Wuhan customs has increased intellectual property knowledge training for the World Cup, upgraded the professional skills of on-site law enforcement officers, and publicized intellectual property protection policies to enterprises through relative films and seminars.

As its advantage in cheap labor fades, China has encouraged domestic manufacturers to move up global value chain. The "Made in China 2025" strategy, equivalent to Germany's Industry 4.0, was announced in 2015.

As part of the initiative to celebrate the 55th anniversary of Kenya-China diplomatic relations, the Kenya-China Economic and Trade Association (KCETA) on Tuesday held an award ceremony to recognize 55 outstanding Kenyan employees working at Chinese companies in Kenya.

As investment rates were significantly higher in China than in other countries, many economists believed that China had been relying too much on investment to drive economic growth, which not only generated overcapacity, but also a high leverage ratio in the corporate sector. Based on this premise, China's economic downturn could be blamed on excess aggregate supply, rather than insufficient aggregate demand, hence the need to cut overcapacity and deleverage.