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As a result, companies such as Tesla and BMW actually lose money on certain models sold in China.

As a key subsidiary of China Construction First Group Co Ltd, a central State-owned construction enterprise, the company has been adjusting its business layout proactively in the past few years to meet new development demands, and has made real estate and infrastructure the two cores of its business, supported by overseas business, and investment and financing.

As a steady stream of last-minute Thanksgiving shoppers poured into Whole Foods stores around the country Wednesday afternoon, Amazon Web Services chose what is traditionally the best time of the year to bury bad news to announce that it has won a significant amount of business away from its closest rival.

As building a beautiful countryside is a long haul, Longnan in Gansu province will continue to draw lessons from other countries and boost cooperation to make progress, said a senior city official.

As founding members, ICBC and the other 27 banks drafted the PRI after a yearlong discussion process, and they are now inviting other banks to join. The 28 founding banks come from both developing and developed economies, including the likes of France's BNP Paribas, the Netherlands' ING, South Africa's Standard Bank and the Kenya Commercial Bank.