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As part of the country's efforts to boost the development of private companies, the funds will first be used in companies across a variety of industries including high-end manufacturing, new energy, new materials and biological medicine, in both domestic and global markets.

As of April 15, a total of 1.16 trillion yuan of new special bonds had been issued by local governments, mainly for new and under-construction projects, according to Wang.

As of Wednesday, 1,432 Chinese listed companies had disclosed their preliminaryfirst-quarter reports, and 66 percent of them registered a net profit growth or turned losses into gains, according to data compiled by Wind, a leading information service provider.

As interviews to select the top 10 winners got underway, Pau said 20 semi-finalists from 10 African countries had gathered in Nailab, one of Kenya's leading business incubators, where the two-day interviews were being conducted.

As many as 300 public lounges, covering all major cities in Hubei province, will be built by 2020, the provincial labor union said.