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The move came as China has been pushing for easier access for foreign investment, with an array of favorable policies rolled out this year.

The move is the latest in a broader reorganization of Wang's Dalian Wanda Group Co, one of China's once-acquisitive firms now under scrutiny by Chinese authorities.

The more chaos and uncertainties Trump's protectionism has been stirring up worldwide, the more resilience and perseverance the open and fair trade system is needed to bring about. In this regard, China and the EU have abundant reasons to join hands to preserve multilateralism, globalization and free trade.

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The nation will consider transferring State-owned assets into preferred stock and the State special share management system, a senior official said.

The more than 500 million consumers on Alibaba's platforms are upgrading their lifestyles and yearning for high-quality American products, resulting in a drastic increase in online shopping, with the majority of which conducted through mobile devices.

The nation's continuous efforts to clean up its skies and improve productivity by shutting down smaller polluting steel mills have boosted demand for high-grade iron ore, which represents more opportunities for suppliers of better quality ore like Vale, he said.

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The move by the Japanese firm underscored the rising interest of global financial institutions of expanding their presence in China.

The move comes less than a week since Queensland reopened its borders to all states, excluding Victoria, in an effort to restart the economy and boost local tourism operators.

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The move came during French President Emmanuel Macron's state visit from Monday to Wednesday, his first China visit since assuming office last May, as part of broader efforts to strengthen ties between the two nations.

The most active gold contract for December 2020 delivery was up 4.1 yuan (about 59 cents) to close at 449.72 yuan a gram.