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Separately, Walmart China also announced it will invest 3 billion yuan in Wuhan, and plans to open four Sam's Clubs, 15 shopping plazas and more community-based retail stores in the next five years. The move is set to enhance the layout of retail community services and bring more vitality to the retail market in Wuhan.

Search for the missing plane is continuing with the use of nine naval vessels, five aircraft and two helicopters of the Air Force as well as local vessels.

Sentis unveiled some key aspects that Spanish companies have to address to convince Chinese investors.

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Second, this is a new journey of moving with the times and exploring new model of development. China's economy is in a transition from a phase of rapid growth to a stage of high-quality development. We will be guided by a new development philosophy, put quality first, give priority to performance and develop a modernized economy. We will pursue supply-side structural reform as our main task, work hard to achieve better quality and higher efficiency performance, and create more robust growth through reform. We will raise total factor productivity and accelerate the building of an industrial system that promotes coordinated development of the real economy with technological innovation, modern finance, and a talent pool. We will endeavor to develop an economy with more effective market mechanisms, dynamic micro-entities, and sound macro-regulation. All these efforts will make China's economy more innovative and competitive. We will promote further integration of the internet, big data, and artificial intelligence with the real economy, and cultivate new drivers of growth in digital economy, sharing economy, clean energy and other areas. We will continue to explore new mechanisms and pathways for achieving coordinated development among regions, promote coordinated development of the Beijing-Tianjin-Hebei region, Yangtze Economic Belt, Xiongan New Area, and Guangdong-Hong Kong-Macao Greater Bay Area, build world-class city clusters and foster new source of growth.

Separately, the authorities have been holding the Blessing Culture and Lamb Food Festival since 2007.

Securitization is the financial practice of pooling various types of contractual debt, such as mortgages, and selling their related cash flows to third party investors as securities.

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Seoul and Pyongyang saw their ties improved greatly since the DPRK's top leader Kim Jong-un reached out to Moon and US President Donald Trump with a nuclear disarmament commitment early this year.

Seoul, South Korea pictured at night. [Photo/IC]

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Service trade totaled 2.2 trillion yuan (about 5.2 billion) during the Jan-June period, down by 14.7 percent year on year, said MOC official Xian Guoyi.

Sedans and SUVs sold 11.53 million and 9.99 million units respectively, a slight decline of 2.7 percent and 2.52 percent year-on-year. MPVs and crossovers slumped 16.22 percent and 17.26 percent to 1.73 million and 452,600 units respectively.