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As of 2 pm on Tuesday, rain also damaged 6,800 hectares of crops and more than 500 houses, causing estimated economic losses of 193 million yuan.In Sichuan, rainstorms have battered 15 cities and prefectures since Saturday, forcing the relocation of more than 8,800 people. Seventeen trains had been delayed or canceled in the province as of Tuesday noon, due to heavy rain, local authorities said.

As part of the Central Plain Economic Region in China, Huaibei covers 2,741 square kilometers and has a population of 2.17 million. Located at the junction of the four provinces of Jiangsu, Shandong, Anhui and Henan, the city is the core of the Huaihai Economic Zone, with a population of nearly 200 million in the surrounding area.

As many changes are taking place in tax policies in big countries including the US, Lucy Wang, EY's international tax services partner, reminded Chinese companies that are expanding their business globally to be better prepared for tax disputes.

As new energy vehicle sales have been booming, global consumption of cobalt, a key element in the batteries of such vehicles, is estimated to exceed 30,000 tons in 2020, and China would consume about 45 percent of the metal, Lu Rixin, an analyst with Orient Securities, said in a research note.

As part of the railway's second building phase, the construction company is tapping volcanic rock of the country's Rift Valley region instead of harvesting supplies from riverbanks. The process is considered to lessen any impact on the environment as well as reduce transportation costs since the sand is produced on site.