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And cars used for ride-hailing services in those cities must be registered there.

Anhui Province has activated the highest-level emergency response for flood control due to the grim situation.

Analysts said the move was part of a broader effort to ensure market stability.

Analysts hold there is room for further tax reductions through measures such as lowering corporate income tax and expanding the scope of expense reductions for enterprises. Currently, China has three brackets for value-added taxes at the ratios of 17 percent, 11 percent and 6 percent respectively. The country can reduce the three brackets into two in the future, analysts suggest.

Andrey Kononuchenko, an engineer in the enterprise business section of Huawei, works at an innovation center jointly operated by the company's Belarusian subsidiary and the China-Belarus Industrial Park. [Photo by Jiang Xueqing/China Daily]