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The administration is a new department under the State Council, the country's Cabinet, and came into existence after institutional reforms in March. The administration was endowed with enormous responsibility in developing the socialist market economy and enhancing market regulation, Li said at a meeting at the administration. It should play a bigger role in promoting China's manufacturing and service sectors, he said.

The Vibrant Express carried its first passengers seamlessly cross-boundary from West Kowloon Station on Sunday

The added value of China's high-tech manufacturing grew 6.1 percent year-on-year in August, 1.7 percentage points higher than that of all industrial enterprises above the designated size, according to data released by the National Bureau of Statistics last week.

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The Vice-Premier added that the State Council and the All-China Federation of Industry and Commerce will send special groups to inspect the implementation of the basic economic system and the development of micro, small and medium-sized companies.

The WyzeCam smart home security camera from Wyze Labs. (Wyze Labs Photo)

The administration merged with the Ministry of Science and Technology last month as part of China's latest government revamp.

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The Wall Street Journal noted this fact at the end of the week, and a reader pointed it out in a comment on our month-in-review post earlier today. Curious what the trends looked like, I used the stock charting tools from YCharts to put together the graph above, adding Apple and Amazon to the mix for a little more context.

The World Robot Conference 2017 (WRC 2017), a feast for both tech geeks and general visitors, kicks off on Wednesday in Beijing.

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The World Bank projected in a report published on its website in June that China's economy is expected to grow 1.6 percent in 2020 -- the only major economy projected to achieve positive growth -- while the global economy as a whole will contract 5.2 percent.

The academy predicted domestic tourism revenue will expand by 10 percent to reach 5.6 trillion yuan in 2019.