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The group has invested more than billion in China, according to Lyu Yong, vice-president of OSI China.

The government would select some top companies related to the initiative and facilitate their fundraising in the offshore market, but there is no timeline for when an IPO plan might take place because it remains under discussion, said Zhang Xiaoqiang, vice-chairman of the China Center for International Economic Exchanges. Zhang was consulted on the development plan for the Guangdong-Hong Kong-Macao Greater Bay Area, which has not yet been publicly released.

The guidelines apply to independent entities registered in China. Before road tests, independent entities must complete tests in designated closed zones. Companies (independent entities) can apply to test up to five vehicles at a time.

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The highway in Yiyang was reopened around 10 am on Sunday after the rescue and investigation works were completed and the road was cleared off. Local police warned drivers to slow down and take precautions after entering the highway as rain and snow is expected to continue to hit the area.

The government will scale up training, and promotional campaigns will target business associations and enterprises so they will better understand the new rules involved in the RCEP to help them seize opportunities and cope with the challenges brought by the higher levels of market access, it added.

The group said it will invest more in collaborating with local chefs and restaurants to develop food-wine pairing options, in a bid to encourage consumption of wine in day-to-day scenarios.

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The group's joint ventures FAW-Volkswagen and FAW Toyota also reported a growth of 6.9 percent and 40 percent in sales in July, respectively.

The growth was 0.2 percentage points slower from the January-September level. On a month-on-month basis, FAI in October rose 0.52 percent from that of September.

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The growth target is unchanged from last year's despite China's achievement of a higher-than-expected 6.9 percent GDP growth in 2017, the first acceleration in seven years. This year's report does not contain wording similar to last year's, which said that "a higher growth rate will be pursued if possible in practice".

The growing severity of PM2.5 air pollution across the country has prompted the government to introduce various pollution control policies. Regulations now require the phase out by 2020 of small high-emission coal-fired boilers used to generate heat and steam. As an alternative, centralized boilers deploying "clean-coal" technology have seen a significant increase in demand across China.