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An auto services firm is riding the internet and technologies such as big data to adopt a new business model that integrates used-car and new-car sales businesses, including features such as financing and after-sales services.

An employee at the Johnson Controls Inc and Saft Groupe SA joint venture Lithium-ion battery factory for electric and hybrid cars, assembles a battery on the production line in Nersac, France. [Photo/Agencies]

An interest rate hike in the US will likely spark capital outflows and will generate growth headwinds for China.

An employee of a major domestic insurer, who sought to be identified only by his surname Li, said the company recently picked up a 49 percent stake in a long-term rental housing project from a property company. It also bought 40 percent of bonds issued by the developer. "In effect, we have an 89 percent stake in the project."

An indication of weaker sales, real estate loans accounted for 35 percent of all new loans extended by Chinese banks in the first half, down from 44.9 percent in 2016, central bank data showed.