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Prices of resold housing in first-tier cities edged up 1 percent month on month in August, with the growth quickening by 0.3 percentage points than the previous month.

Producer prices accelerated upward, a significant positive sign for China's economy, which will help drive profits higher and enable companies to process their debt burden a little more easily, Bloomberg chief Asia economist Tom Orlik said.

Prices of paper, chemical raw materials and chemical goods and non-metallic minerals contributed the most to PPI growth in October, said Sheng from the NBS. Those of metals, coal mining and oil processing costs remained a major driving force for overall PPI growth, but their growth rates dropped in October compared with previous months.

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Prisons in Hubei province, the epicenter of the outbreak, added 220 confirmed cases of novel coronavirus pneumonia as of Thursday, rectifying the province's number of new confirmed cases to 631, according to a release by the province's health commission on Friday.

Profits of China's major coal producers rose 5.2 percent year-on-year to 288.82 billion yuan (about billion). Revenues increased 5.5 percent to 2.27 trillion yuan, according to a report issued by the China National Coal Association.

Profits at 28 of the 41 industrial sectors surveyed rose compared with one year earlier, while 13 sectors saw their profits fall in the first eight months, according to the NBS.

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Professor Li Qiang, the Chinese director at the Kenyatta University Confucius Institute, said that the Chinese Spring Festival is a very important season for Chinese people and it's usually characterized by cooking different types of food, the exchanging of gifts and shopping.

Prime Minister Narendra Modi has asked his officials to stay in touch with the states at risk from cyclone Fani.

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Property developer turned conglomerate Dalian Wanda Group Co Ltd on Thursday reported that revenues from its diversified operations convincingly outperformed its core property business in the first half of 2017, as the benefits continued to flow from the restructuring of its business portfolio.

Proposed by China in 2013, the Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st century Maritime Silk Road, which aims at building trade and infrastructure networks connecting Asia with Europe and Africa along the ancient trade routes of the Silk Road.