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The Chinese government will face an unprecedented rise in the budget deficit this year to implement expansionary fiscal measures and lessen the near-term economic slowdown while still preventing elevated debt, analysts said on Tuesday.

The China Securities Regulatory Commission (CSRC) also announced Friday the takeover of two securities firms and one futures brokerage for one year until July 16, 2021.

The Central Commission for Discipline Inspection, the country's anti-graft authority, has ousted corrupt officials all the way from low-level "flies" to high-ranking "tigers" since late 2012.

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The Chile-China relationship has made many firsts in the course of developing relations between Latin America and China, said Bachelet, adding that her country will carry forward the pioneering spirit and advance the practical cooperation between the two sides.

The China Tianjin International Fair for Investment and Trade has been held annually since 1994.

The Cambodian edition of Xi Jinping: The Governance of China made its debut in Phnom Penh on Tuesday as Cambodian Prime Minister Samdech Techo Hun Sen called on the country's young people to read the book to learn about governing a country.

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The China Insurance Regulatory Commission (CIRC) will strengthen oversight to ensure that new insurance firms operate according to company plans, funding provided by shareholders is authentic, and that their stakes are not transferred during the preparatory process of the companies, according to a CIRC statement.

The Chinese electric vehicle sector has been heating up in the past decade and attracted numerous investment with good and bad intermingled together, according to Cui.

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The Chinese economy continued steady expansion in the first half of this year with GDP up 6.9 percent year on year to about 38.15 trillion yuan (.6 trillion), data from the National Bureau of Statistics showed.

The Chinese government has also recently announced tax cuts and financial regulations designed to help private companies. This will hasten the ongoing transition to a market-driven economy.