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An on-site and online signing ceremony for the projects was held in Haikou, capital of Hainan province on Saturday, with the total value surpassing 6.4 billion yuan (about 3 million). They cover free trade port construction, industrial development and public services.

And the company is also committed to the high-end residential market by launching more One Sino Park developments, the top-end of its product portfolio. It just introduced one such project in the capital's Haidian district, close to Xiangshan Mountain and the Summer Palace, bringing the total number of the developments up to 16 across the country.

Anheuser Busch, the producer of Budweiser, raised its wholesale price by nearly 50 percent from March 10. Harbin Beer is also planning to raise prices in April.

Andy Zhou, a Shanghai-based partner of Deloitte Consulting, told China Daily that many traditional carmakers may not be moving quickly enough to develop emerging new technologies or communicate their plans to potential customers.

Analysts said the survey results show that the Chinese economy remains on track, although policymakers should closely monitor the adverse effect of credit contraction on small enterprises. The Caixin/Markit Services Purchasing Managers' Index (PMI) stood at 52.9 in May, unchanged from April. The composite index, which combines both manufacturing and services PMI, was 52.3 last month, also unchanged from April. A reading above 50 indicates growth.