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Yuan also said the Zhejiang government will further deepen its "go once at most" campaign, an initiative it first raised in December 2016, which was designed to simplify and minimize bureaucratic red tape at all levels to better serve the people.

Yu Zhehao, a student majoring in journalism at Southwest University of Political Science and Law in Chongqing, seldom used his high-tech camera until he visited Nepal in February to take photos of earthquake victims.

Yuan Longping, China's "father of hybrid rice", checks saltwater rice seedlings before they are planted in Qingdao, Shandong province, on Monday. [Photo provided to China Daily]

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Yin Cunyi, a professor at the Institute of Taiwan Studies of Tsinghua University, said the political relations between the two sides are nearly "frozen". "In contrast, the exchanges between the two peoples have increased," he added.

Yield on the benchmark 10-year US Treasury Bond edged up to 1.188 percent from 0.994 percent Tuesday. Investors seek safety amid the stock market's turmoil.

Young women practising yoga [Photo/VCG]

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Yu credited the stellar performance to the company's years-long efforts in exploring global markets and its ability to follow the latest trends in the automotive sector, including the gradual shift to electric, intelligent and connected vehicles, the concept of sharing economy as embraced by ride-hailing firms that are now among automakers' biggest clients, and internationalization of auto companies.

Yet, there is a silver lining for China's bond market amid this clouded global financial and economic landscape, especially for risk-free and low-risk bonds. Both demand for and supply of those bonds are expected to rise, while the participation from foreign investors should increase.

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Youngsters team up to construct houses in the Wiki Tribe theme park in Huzhou, Zhejiang province.[Photo provided to China Daily]

Yet industry insiders are optimistic about the sector's prospects.