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As of April 21, 45 Chinese mainland cities had home-purchase restrictions in place to curb speculative investment demand and these locations accounted for around 50 percent of the country's contracted home sales in 2016, the credit rating agency noted.

As of 8 am Thursday, the floods have caused economic losses of 2.45 billion yuan (about 4 million), said the flood control and drought relief headquarters of Chongqing.

As of the end of June, ICBC's loan book covering small and microenterprises had increased by more than 17 percent from the beginning of the year, much higher than the average growth of other types of loans.

As of Monday, a total of 412,700 hectares of crops were affected by the lingering drought, causing direct economic losses of 1.61 billion yuan (about 7.5 million), it said.

As one of the most important markets for Covestro, China has recovered from the COVID-19 pandemic in an exceptional manner, said Michael Friede, global head of the company's coatings, adhesives and specialties segment.