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Analysts said that China's outbound investment activities will pick up for the remainder of the year and projects that are in line with the country's overall economic policies will continue to be supported by the government.

Analysts believed the move, which will take effect on Oct 15, is meant to further fuel the country's real economy and fend off potential risks brought about by global trade uncertainties and downward pressure. The RRR cut will inject 1.2 trillion yuan (4.7 billion) of commercial bank deposits from the central bank to the banking system, according to a statement on the People's Bank of China website.

An online video of the incident shows a long row of trucks, all apparently parked along a road, engulfed by fire.

Analysts have also warned that a Huawei ban would have a significant impact on the British economy. Huawei is a leading supplier of global network infrastructure, and a recent report from London-based technology analysts Assembly Research estimated that a ban on Huawei would delay the 5G rollout in Britain by up to two years and cost the economy up to 6.8 billion pounds (.8 billion).

Analysts said that Wednesday's statement showed that maintaining a normal pace of approving share sales and restoring the capital market's fundraising function will be a key priority of the regulator, especially against the backdrop of cutting corporate debt and reducing leverage as key reform measures adopted by the central government.