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Angry netizens responded by leaving messages on Yang's social media account, while China Women's News, the official paper of the All China Women's Federation, accused her of poisoning minds, selling lies and challenging society's mainstream values.

Analysts said it was a sign that consumer confidence had dipped, amid an impeachment inquiry of President Donald Trump and uncertainty in the 15-month tit-for-tat US-China trade war.

Andrey Denisov, Russia's ambassador to China, lauded the efforts by the Beijing government to achieve sustainable and ecological development, citing improved infrastructure and air quality.

Analysts at GF Securities said that foreign securities firms in China have the advantage in areas including derivative trading, asset management and wealth management services over local players. But it is challenging for foreign firms to compete in the onshore securities brokerage and underwriting business in the short run given that they may face limited market channels and higher capital constraints.

Analysts say the move is to boost new energy vehicle sales in world's largest car market