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China seeks to reduce overall financing costs for micro and small businesses as part of its efforts to deliver notable progress in addressing their financing difficulties, according to a Chinese Cabinet meeting on Thursday. 

China remains committed to the underlying principle of making progress while keeping performance stable, firmly implementing new development concepts, adapting to and steering the economic "New Normal", and focuses on supply-side structural reforms, while moderately increasing aggregate demand and improving the expectation management. China has further implemented the innovation-driven strategy, boosted market vitality and social creativity by streamlining administration, delegating powers, strengthening regulation and improving services, and facilitated the transition to new growth engines from traditional ones by promoting mass entrepreneurship and innovation. With these efforts, China has achieved a steady and improved growth, which was not easy. In the first half of 2017, China's GDP grew at 6.9%, which was within a reasonable range, major indicators outperformed forecasts, including faster growth in fiscal revenue, enterprise profits and household income, and the RMB exchange rate maintained at a stable level. The economic structure further adjusted and improved, as manifested through greater contribution by consumption to the growth, rapid adjustment of industrial structure, ongoing and orderly reduction of excess and backward capacity. As many as 16,000 new enterprises were registered on an average day, over 13 million new urban jobs were generated annually in the past few years. The threshold for foreign investment has been reduced further, and the investment and market environment has been improved. We believe that with the supply-side structural reforms further deepened and more policy measures implemented, the Chinese economy is on track to achieve a higher quality, more efficient, more equitable, and more sustainable growth, and will continue to contribute to the global economic growth.

China is willing to continue to play a positive role in resolving the current Palestinian-Israeli conflict, Wang said.

China now consumes 37 percent of the global production of seafood and aquatic products, which is seven times higher than the total consumption of the whole of North America, according to a report published in January by Rabobank. It is estimated that over the next decade, China will be responsible for more than half of the global seafood consumption growth.

China ready to work with other Asia-Pacific economies