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The daily trading value of the A-share market has surpassed 1.5 trillion yuan (4.65 billion) for four trading days in a row as of Thursday, indicating that more funds have started flowing into the market and further upswings are on the way.

The court also found that in 2006, Mao had taken advantage of his post and embezzled public funds for other businesses.

The country's reform and opening-up drive in the late 1970s enabled the more adventurous entrepreneurs in coastal cities to start their own businesses, overcoming difficulties and successfully turning small workshops into big manufacturing companies.

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The country's financial regulators emphasized the need to develop the direct financing market to fund businesses, showing that the pace of initial public offerings will accelerate.

The country's economic growth has maintained generally stable this year, with the supply-side structural reform and deleveraging yielding initial outcomes, but changes have emerged and the government should prioritize measures to lower business costs to cope with uncertainties, the CFIE said.

The country's service industry has been contributing to more than half of the country's economic growth during the first half of 2017, reaching 51 percent of GDP. Outsourcing services－in which a company contracts part of its existing internal activity to another company－created 1.21 million new jobs in China last year, with a total of 8.6 million people employed in the sector.

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The deal will also dismiss deadlocked charges from last month's mistrial of other ten charges in Virginia federal court, the report added.

The country's purchasing managers' index in the manufacturing and non-manufacturing sectors came in at 50.8 and 54.9 respectively in September, both still within the expansion range, according to the NBS.

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The day started badly as the S&P 500 lost 7 percent shortly after the market opened, putting the index into bear market territory and triggering a temporary halt to trading. The market continued to fall after trading resumed.

The deal was signed between Magang and German railway company Deutsche Bahn last year.