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The Soubre project, dormant for several decades due to lack of funding, was launched in February 2013 with funding from China.

The Treasury report, titled Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States, said China has an “extremely large and persistent” bilateral trade surplus with the US, with goods trade surplus standing at 5 billion in 2017. But it noted that China runs trade deficit with many other economies.

The Spring Festival, China's Lunar New Year, is an important traditional festival for Chinese, and cash demand during the week-long holiday is usually strong. This year, the festival fell on Feb 5.

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The State Administration of Foreign Exchange said in a statement that the reserves rose due to more balanced cross-border capital flows and the appreciation of many other currencies against the dollar in the international market.

The South China Morning Post cited a source familiar with the situation as saying that China will list new companies on the London Stock Exchange and move away from US markets.

The State Council, China's cabinet, has set up a special investigative team on the deadly accident. Those found responsible will be seriously held accountable, according to the law, he said.

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The Tesla plant is among a number of foreign-invested projects under construction. These projects demonstrate that China is attractive to foreign investors as the country endeavors to open its door wider by expanding market access and improving the business environment.

The State Council confirmed that central and local government agency fees worth more than 600 billion yuan, or 60 percent of the 1 trillion yuan target, would be reduced by the end of the year to ease the financial load on corporate China.

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The State Administration for Market Regulation announced on Monday it has fined e-commerce giant Alibaba Investment, Tencent-backed e-book site China Literature and logistics player Shenzhen Hive Box Technology 500,000 yuan (,450) each for not seeking regulatory approval before their respective buyout deals.

The South African president also pledged to implement the consensus reached between the two sides and deepen all-round cooperation in such areas as economy, trade, technology and people-to-people exchanges.