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As its name implies, Silicon Valley was once a manufacturing center. Even into the 1980s, many personal computers were manufactured there. But, for the last 30 years or so, the region has concentrated almost exclusively on software, not hardware.

As more efforts are made to rebalance away from investment and external demand toward domestic consumption, China's growth is projected to moderate in 2018-2019 but remain higher than many economies in the region, it said.

As of 6:00 pm Tuesday, the number of traffic accidents involving casualties across China saw a 31.3-percent decrease year on year during the holiday from April 29 to May 1, according to the Ministry of Public Security.

As of April 26, a total of 11.5 billion yuan worth of consumption coupons had been issued in 25 provinces and municipalities, with 13 of them granting vouchers worth more than 100 million yuan each, according to Zhong Ruiyi, senior director of retail service in East China with Colliers International.

As of the end of the third quarter, outstanding small business loans hit 36.39 trillion yuan (.18 trillion) in China. Among the total, outstanding loans to small businesses with a total credit line of up to 10 million yuan rose 20.81 percent from the beginning of this year to 11.31 trillion yuan. The growth rate was 10.9 percentage points higher than that of various types of loans, according to the regulator.