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Analysts said asset quality improved at most banks after they readjusted their credit structure by issuing a larger amount of consumer loans and mortgage loans, which are less sensitive to economic cycles than loans issued to the manufacturing sector. Besides, banks also stepped up efforts to write off nonperforming loans.

Analysts said Russia has also been a major source of crude for China, and the pipeline will be one of the latest energy cooperation between the two countries, which will help ensure China's energy diversification.

An orchard in the county's Duyang town offers an example of private-public partnership in poverty reduction in this part of Guangxi. In the past three years, oranges from this joint venture have been sold to retailers in Beijing, the city of Shenzhen and the provinces of Qinghai and Shangdong.

Andy Jassy, AWS CEO, speaking via webcast this morning.

Analysts attributed the IPO surge of Chinese tech firms to vibrant web-based industries. Innovations powered by internet technology are springing up and the group of tech-savvy young consumers is growing rapidly.