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And law enforcers have launched an on-the-spot investigation into Foshan Nanhai Heyi Meat Co, which was reported by local media as being suspected of slaughtering dead pigs and selling the pork to local meat and vegetable bazaars on Saturday.

Analysts close to the PBOC told China Daily that a long-expected reform of China's interest rate regime will make progress soon. The mechanism will make an actual lower lending rate possible for the real economy, especially for the manufacturing sector and small and private companies still facing difficulties in getting cheap loans.

Analysts have advised that regulation of ICOs should focus on registration of financial products, proper information disclosure and underlying project quality.

Andrew Guthrie, president of Syngenta China. [Photo provided to China Daily]

Analysts largely attributed the declines largely to tumbles in overseas stock markets, as the Dow Jones industrial average plunged more than 1,000 points Thursday, to sit 10 percent below its record-high of two weeks ago.