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The move came after China unveiled a document last year on supporting the reform and development of private enterprises, as part of the country's overall drive to deepen reforms and foster high-quality development, said Dong Xiaoyu, a senior expert at Zhongguancun Development Group.

The move will further satisfy demand for yuan-denominated assets by Hong Kong investors, further opening the financial market on the Chinese mainland, and strengthening financial ties between the two sides, the statement said.

The move is the latest effort of China to further open its capital markets and to boost investment and financing for regional infrastructure development under the B&R initiative.

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The move came after two similar stocks connect programs initiated in 2014 and 2016, respectively. China has secured another solid step forward in its progressive but persevering drive to internationalize its financial sector and currency.

The move will further boost bilateral trade and is another example of how the Belt and Road Initiative can bring businesses and countries together.

The model, which has a range of 470 km on one charge, is now built in Audi's plant in Brussels, Belgium. Local production will begin sometime in 2020 at FAW-Volkswagen Audi's plant in Changchun, Jilin province.

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The move follows Japanese Prime Minister Yoshihide Suga's first policy speech in October in which he pledged to cut greenhouse gas emissions in Japan to net zero by 2050.

The mobile gaming industry is gaining greater momentum in China as tech-savvy millennials' purchasing power increases.

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The moderation in liquidity injection eases concerns that authorities may try to stimulate the economy with an oversized credit injection and put the economy back on the path of debt-fueled growth, a major risk to the stability of the banking system, said Nicholas Zhu, an analyst with Moody's Investors Service, a global credit ratings agency.

The much-anticipated development plan of the Guangdong-Hong Kong-Macao Greater Bay Area is likely to be released early next year, providing firm policy support and fresh opportunities for the 11-city cluster, Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor revealed on Saturday.