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China would continue to accelerate financial supply-side structural reform and optimize the banking service system, said the CBIRC.
China's A-share market, together with other Asian peers, tumbled on Friday, after the unexpected tariff threat from the United States overnight rattled investors globally.
China will gradually cut the current 25 percent tariff on imported cars, the foreign ministry said in a news release on Thursday. It also said the government will initiate a pilot program before June 2018 that will relax foreign firms' ownership restrictions for new energy and special use vehicle businesses established in free trade zones.
China will reduce the tariffs on soybean imported from India, South Korea, Bangladesh, Laos, and Sri Lanka from the current 3 percent to zero. Imported products such as chemicals, agricultural products, medical supplies, clothing, steel and aluminum products from these countries will also enjoy certain tariff reductions.
China will modestly raise its budget deficit ratio, issue special sovereign bonds and bolster the scale of local government bonds as part of a slew of macroeconomic policies to cope with impacts of the COVID-19 pandemic, according to a decision made at a key meeting of the Communist Party of China on Friday.
来源：资阳报