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Such a situation, if it happens, would be akin to that seen in some emerging markets that have experienced hyperinflation and a sharp devaluation of their currencies, Li said.

Stringent IPR protection meets China's needs for high-quality development and closer cooperation with the rest of the world. In recent years, China has revised nearly 20 IPR-related laws and regulations, handled over 1.4 million cases of IPR infringement, and set up special IPR tribunals. Intellectual property royalty payments by Chinese companies to overseas proprietors have increased by a big margin to reach US.6 billion last year, of which one third was made to the EU. China will never allow forced technology transfer or make technology transfer a precondition for foreign investment approval. Mutually beneficial technology transfer and cooperation between business partners in joint ventures and other forms of cooperation will be respected by the government. We will introduce a more rigorous mechanism of punitive compensation for IPR infringements to deter violations, improve judicial services and align China's innovation protection system with international business rules.

Such investment is increasingly about leveraging a booming Chinese consumer market and meeting China's desire to develop innovative high-tech industries.

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Such relatively solid growth prospects mean China can have more room to deal with its debt problem, only that the tempo of deleveraging should be properly managed, Yu said.

Steven Ciobo, Australia's Trade Minister, said that the value of exports in all states and territories grew in 2016-17.

Stronger counter-cyclical measures are expected in the coming weeks, including possible adjustments of interest rates or the reserve requirement ratio, to maintain ample liquidity in the financial market and support infrastructure investment, according to some economists after they viewed the new financing data released on Wednesday.

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Stricter security measures will be made for future displays, he added.

Sub-indices for production and new orders came in at 54.4 and 53.1, respectively, up from 53.4 and 52.3 last month, indicating accelerated growth in both supply and demand, according to NBS senior statistician Zhao Qinghe.

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Steven Li (left), Huawei Kenya vice-president, Charles Kare (middle), Safaricom consumer business director, and Nakhulo Khaimia (right), Huawei marketing and communications manager, take a selfie during the Huawei P30 series launch on April 10, 2019. [Photo provided to chinadaily.com.cn]

Such homes can be purchased by qualified professionals from throughout Chinese mainland as well as the Hong Kong and Macao special administrative regions, according to the guideline published on July 28.