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The move was made after comprehensive evaluation of market risk and active improvement of supervision system, the Shanghai-based exchange said in a statement.

The nation has invested 800 billion yuan (0.6 billion) in flat-panel display production lines, with investment in liquid crystal display (LCD) panel production exceeding 500 billion yuan, according to the China Video Industry Association and China Optics and Optoelectronics Manufacturers Association.

The move came amid the rain of domestic criticism over his performance in his first meeting with Putin in Helsinki, and Russia's request to question American citizens including former US ambassador Michael McFaul.

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The most popular destinations for car rentals are Sanya in Hainan province, Chengdu in Sichuan province and Shanghai, respectively.

The move, confirmed by Democratic allies to the Biden campaign, will shift Treasury's focus heavily toward progressive efforts to tackle growing economic inequality and fighting climate change away from the Trump administration's emphasis on cutting taxes and easing financial regulations.

The momentum continued in the first half of this year. Investment in local industries and fixed assets increased by 11.6 percent and 5.2 percent from the same period of last year respectively.

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The model is able to connect China's competitive production capacity and developed countries' advanced technology with the third-party's vast development demand, said Loletta Chow, global leader of EY China Overseas Investment Network and B&R Task Force leader.

The move aims to catapult the municipality to the forefront of economic opening-up, and deepen coordinated development across the Yangtze River Delta region, which includes neighboring Jiangsu, Zhejiang and Anhui provinces.

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The momentum is expected to carry on this year. L'Oreal China will introduce to the market a new facial mask product under its acquired local brand MG this year by combining the latest advances in technology. At the same time, it will repackage and upgrade the retail image of the domestic high-end beauty brand Yue Sai this year to make it the "No 1 Chinese luxury beauty brand".

The move also came after the ministry launched a draft earlier this month to promote the development of lithium-ion batteries, asking companies to perfect top-level policy design of lithium-ion batteries and to push for the automation of production procedures.