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However, China's increasing say in the international rule-making process and growing influence on regional order establishment have made the United States uncomfortable, pricking its fragile ego as a hegemonic power.
As China is promoting the Internet Plus drive, the country is welcoming CISCO and other U.S. businesses to have in-depth cooperation with Chinese companies, enhance exchanges in high and new technology and grasp market opportunities, Wang said.
Starting from May 1, the VAT replaced business tax (BT) in the sectors of construction, real estate, financial services and consumer services to avoid double taxation, a move expected to slash taxes by over 500 billion yuan (76.9 billion U.S. dollars) in 2016 alone.
China will initiate mixed-ownership pilots in SOEs and push forward reforms in electricity, oil, natural gas and salt industries, said a statement issued after a two-day meeting of the National Development and Reform Commission (NDRC), held on Thursday and Friday.
"China has been as an observer of the SAARC over the years. Since China has made such a rapid progress with such new initiatives like One Belt and One Road, the SAARC countries should invite China as the member of SAARC and collaborate in the promotion of the regional connectivity in the Asia region," he added.
来源：资阳报