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The model also served guests at other global events, including the Beijing Summit of the Forum on China-Africa Cooperation.

The move came as about 19 percent of shares in the company, or more than 3 billion, opened to free trading on Wednesday, after a six-month lock-up period expired following its IPO last year, according to data compiled by Bloomberg.

The move will further complete the supervision system of property insurance products and encourage product innovation, sources with the CBIRC said.

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The move also aligns with the State Council's call for new infrastructure development, including industrial internet and artificial intelligence, to offset the economic impact of the coronavirus pandemic and boost sustainable growth.

The move will make Volkswagen the second foreign carmaker to have a controlling stake in a Chinese joint venture after BMW. The equity change in JAC Volkswagen is part of the company's 1 billion euro (.1 billion) deal signed on Friday in Beijing to acquire a 50-percent stake of Chinese partner JAC Motors' parent Anhui Jianghuai Automobile Group Holdings.

The move has since driven a speculation frenzy in the property market in the area, which prompted policymakers to put in place strict controls on real estate development in Xiongan New Area.

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The move is expected to give better play to the positive role of foreign investment in China's industrial development, technological progress and structural optimization, said a news release from the NDRC.

The move will also help prevent legal risks, resolve disputes and improve operations, management and decision-making based on rule of law, as well as provide solid legal protection for the development of the private economy, he said.

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The nation will work to develop tourism into a major driver of economic transformation. By 2020, investment in tourism is expected to grow to 2 trillion yuan, and the sector's overall contribution to the national economy will reach 12 percent, according to a State Council five-year tourism plan (2016-2020).

The most active cotton contract for January 2021 delivery gained 115 yuan (.58) to close at 12,920 yuan per ton.