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The move came as an intensified measure from a slew of steps ranging from tightened mortgages for second-home buyers to restrictions on non-residents making purchases.

The most eye-catching of them all is the Lingshan Grand Buddha, which stands 88 meters tall clad in more than 700 metric tons of bronze. The statue is one of the tallest in the world and took more than three years to complete.

The monthly minimum wages in most regions included the fees for social security and housing fund, but not in Beijing, Shanghai and Anhui, according to the Department of Human Resources and Social Security of Anhui Province. In addition, per-capita disposable incomes are diversified. In some regions, the first level of the monthly minimum wage is even higher than the local per-capita disposable incomes.

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The nation's CPI rose for the third consecutive month to 2.7 percent year-on-year last month, the highest since March 2018, the National Bureau of Statistics said on Wednesday.

The museum used its portion of the building to store donated collections of Chinatown postcards, Chinese American newspapers, family albums, documents about the Chinese Exclusion Act of 1882 and letters home from lonely bachelor immigrants, Maasbach said.

The move is part of the efforts to help develop a sound business environment in the country's largest free trade zone established in April 2018. The Hainan Free Trade Account is a convertible accounting system with renminbi as its base currency, using unified accounting rules and taking into account various types of risk management between the renminbi and foreign currencies, according to the Haikou branch of the People's Bank of China, the nation's central bank.

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The nation's large foreign exchange reserves, which exceeded trillion in March, will be a cushion for the dollar-denominated debts of Chinese businesses. China's economic recovery following the outbreak will also attract inflows of foreign capital seeking higher investment returns, said Guan Tao, chief global economist of BOC International (China) Co Ltd and a former official with the State Administration of Foreign Exchange.

The narrowing of services trade deficit was mainly caused by the reduction of overseas tourism and education activities as a result of the COVID-19 pandemic. These activities used to greatly contribute to China's services exports, said Lian Ping, chief economist of Zhixin Investment.

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The money will be used for research and development, as the company seeks to build a smart logistics assets service platform.

The move came as rivals, including Didi Chuxing, China's largest ride-sharing company, and Hellobike, a startup-biked by Alibaba Group Holding Ltd, are also experimenting with electric-bicycle services, in the hope of establishing a beachhead in the area.