China's plan to overhaul the current military will not affect the country's defense policy, which is "defensive in nature".
China's stocks tumbled heavily in the afternoon session, with the benchmark Shanghai Composite Index nosediving more than 3%.
President Xi has vowed to reorganize the military administration structure by 2020.
Chinese naval forces involved in anti-piracy patrols in the Gulf of Aden have held their first joint drill with NATO ships.
Dropping sales and rising costs pushed down profits of China's major industrial firms by 4.6 percent year on year in October.
China's insurers are on a hiring binge to sell their products to a burgeoning middle class.
The remote sensing satellite will be used for experiments and disaster relief.
Russia will freeze some joint investment projects with Turkey and impose food imports embargo.
Japan is preparing to make a bid Monday on joint production of an Australian submarine.