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"Cash reserves are running down quickly as fleets are grounded, and ... demand is drying up in ways that are completely unprecedented."

"China firmly opposes US deployment of intermediate range missiles in the Asia-Pacific and looks to the United States to be cool-headed and exercise restraint," said the envoy.

"China has entered a stage of stabilizing the leverage ratio and is gradually reducing it," Zhou said, noting that China is likely to reduce reliance on wide capital support for economic growth as the country seeks high-quality development.

"China needs at least 2 trillion yuan (0.4 billion) of green investment annually over the next five years to promote environmental protection and reduce pollution," PBOC chief economist Ma Jun said in March.

"China is going through a transformative period from consumer internet to industrial internet. There is robust demand for digital transformation among Chinese enterprises. We are playing an increasingly important role in the process," Kingdee Chairman Xu Shaochun said at the news conference accompanying its 2019 interim results announcement on Wednesday.