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"China should refrain from monetary overflow in the face of downside risks, as this could cause long-term capital outflow pressure," Yang said. "Instead, the monetary authorities should focus on re-channeling money supply occupied by low-efficiency sectors into more vibrant private enterprises."

"Chinese app developers are leading the world in terms of app downloads and revenue, and have grown to be a very admirable community of innovators," Isabel Ge Mahe (Ge Yue), Apple's vice-president and managing director of Greater China, told Xinhua on the sidelines of the China International Big Data Industry Expo 2019 that opened in Southwest China's Guiyang, Guizhou province, on Sunday.

"Choose qualified restaurants and try to avoid raw or half-raw dishes when going out for dining," he said.

"China's fast-growing digital economy has sharpened the country's competitive edge in industry and created favorable conditions for foreign businesses to invest in more areas," he said, adding that 4G-and 5G-based digital infrastructure is a solid foundation that facilitates rapid growth of artificial intelligence, big data and diversified online services.

"Currently we are going through one of the biggest slowdowns that we have seen in recent times," Pawan Goenka, managing director at automaker Mahindra said earlier on Wednesday after the company reported a quarterly profit.