Switzerland and China cleared the final hurdle Friday towards a landmark free-trade agreement, as Beijing seeks to underscore its growing global ties via deals with European partners.

Manufacturing activity in China contracted in May for the first time in seven months, HSBC said Thursday, in another sign of the weakness of recovery in the world's second-largest economy.

China's private sector wages in urban areas grew 17.1 percent in 2012, official figures showed Friday, even as the country's economy expanded at its slowest pace in 13 years.

Industrial output in China rose 9.3 percent in April, the National Bureau of Statistics (NBS) said Monday, accelerating from March but below market expectations, underscoring sluggish growth momentum.

Fears that China will overtake the U.S. in the race to put electric vehicles on the road have fizzled.

Inflation in China accelerated to 2.4 percent year-on-year in April, official data showed Thursday, above market expectations, but analysts said counter-measures were unlikely due to weak economic momentum.

China on Thursday welcomed the appointment of Brazilian diplomat Roberto Azevedo to head the World Trade Organization, with state media saying it showed the growing clout of emerging economies.

Growth in China's services sector slowed sharply in April to its lowest point since August 2011, a private sector survey showed on Monday — fresh evidence of rising risks to a revival in the world's No. 2 economy.

China became the world's largest personal computer market for the first time on an annual basis last year amid weaker global demand, a research firm said, adding that the nation is likely to retain the position in the coming years.

Chinese home prices picked up in April in their fifth consecutive monthly rise, an independent survey showed on Thursday. The cost of a new home in 100 major cities rose 5.3 percent year-on-year to an average 10,098 yuan (US$1,638) per square meter, said the China Index Academy.