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China will outpace the world in making servers to power artificial intelligence, cloud computing, and big data applications as these cutting-edge technologies are widely seen as the next frontier of innovation, according to a renowned server expert.

China will offer meteorological services to all parties through its Fengyun 2 weather satellites, President Xi Jinping said in a speech at the two-day Shanghai Cooperation Organization Summit on Sunday in Qingdao, Shandong province.

China's June consumer price index rose by 1.5 percent year-on-year, in line with market expectations, the National Statistics Bureau said on Monday. The producer price index, which gauges factory-gate prices, rose by 5.5 percent in June from a year earlier.

China's Ministry of Science and Technology issued a special plan for biotechnology innovation in the 13th Five-Year Plan which says that China's biotech sector will exceed four percent of GDP by 2020, Xinhua reported on April 28.

China will further VAT reform in 2019 to ensure tax will only be cut rather than increased, the Minister of Finance said. The total taxes and fees to be cut this year may exceed the governmental target of 2 trillion yuan, according to minister Liu Kun.