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Apple sales in China dropped 27 percent in the final quarter of 2018, with CEO Tim Cook admitting that higher iPhone prices are a "factor" in declining upgrade rates.

Apple Inc has said the moves could hit a "wide range" of its products. The iPhone maker's shares were down 1.8 percent, providing the biggest drag on the Dow. The stock pared its losses following reports that the United States would spare some of its products in the latest round of tariff actions.

Arbitrary inspections of enterprises must be prevented to ensure their normal operation and production, Li said.

As China develops, Volkswagen must be relentless in its pursuit of transformation and renewal, and the brand is going to carry on doing just this in the next three years, according to Woellenstein.

As Chinese property developers are flocking to issue offshore bonds, the nation's top regulator has stepped up efforts to prevent financial risks and stabilize the real estate sector, said experts.