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As the economy is becoming more efficient, industrial enterprises at national scale have gained a profit increase of 21.2 percent, growing 14.3 faster year on year, National Statistics Bureau confirmed on Aug. 28.

As socialism with Chinese characteristics has entered a new era, the principal contradiction facing Chinese society has evolved. What we now face is the contradiction between unbalanced and inadequate development and the people's ever-growing needs for a better life. China has seen the basic needs of over a billion people met, has basically made it possible for people to live decent lives, and will soon bring the building of a moderately prosperous society to a successful completion. The needs to be met for the people to live better lives are increasingly broad. Not only have their material and cultural needs grown; their demands for democracy, rule of law, fairness and justice, security, and a better environment are increasing. At the same time, China's overall productive forces have significantly improved and in many areas our production capacity leads the world. The more prominent problem is that our development is unbalanced and inadequate. This has become the main constraining factor in meeting the people's increasing needs for a better life.

As premium carmakers cut their prices, volume brands may follow suit to keep their competitive edge in the market, Zhang said.

As the first step of the inclusion, 234 Chinese A-shares will be added to the MSCI China Index as well as related global and regional composite indexes as of the close of May 31, 2018, the index provider said Monday.

As the US mid-term elections are scheduled for fall, Trump is trying to woo electoral support by implementing protectionism. However, his actions are counterproductive to Wall Street's expectations.