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China's central bank had decided to set up the nationwide clearing house for online payment services to protect consumers and the financial system from the mushrooming internet-enabled model of finance that currently accounts for over 3 percent of the country's non-cash payments.

China will move faster to boost innovation in its national economic and technological development zones in terms of openness, technology and institution building to cultivate new pacesetters in the country's reform and opening-up, the State Council's executive meeting chaired by Premier Li Keqiang decided on Wednesday.

China's Ministry of Commerce said Thursday that the two sides will resume senior-level trade talks in Washington DC in October, raising hopes of an end to the tit-for-tat trade war that continues to unnerve the global economy. The US stock market rallied Thursday in response.

China's GDP expanded 6.9 percent in the first quarter of the year, up from the 6.8-percent growth in the previous quarter and 6.7 percent for 2016. The government has targeted annual growth of around 6.5 percent for 2017.

China would like to align the Belt and Road Initiative with Indonesia's development strategies and strengthen ties in infrastructure and other key areas, Premier Li Keqiang said on Friday.