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China will intensify pilot regional financial reforms to enhance the role of finance in supporting reform, opening-up and economic growth, the State Council decided at an executive meeting on Wednesday.

China would like to better align the Belt and Road Initiative with Papua New Guinea's development strategies and create more opportunities to boost cooperation in fields such as trade, energy, infrastructure and industrial production capacity, Li said.

China will raise its defense budget by 8.1 percent in 2018, according to a budget report to be submitted to the national legislature Monday, up from last year's 7 percent.

China's State-owned FAW Group is planning to invest 210 billion yuan (.4 billion) in its Hongqi brand's research and development, as part of the effort to make it a globally renowned premium brand.

China's Southwest Tibet autonomous region is planning to jointly launch six self-driving and trekking lines with neighboring Qinghai province, the region's tourism development department said, Tibet Business Daily reported.