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China will do whatever is necessary to stabilize foreign trade and secure supply and industrial chains in the second half of this year amid a world business environment that remains complicated and challenging for companies, the country's top commerce official said.

China's beef imports reached around .5 billion in 2016. However, per capita consumption is still low compared with the United States and Australia.

China's central authorities has announced a grand plan to build the country's tropical resort island into a pilot international free-trade zone and a major port with the new policies that are expected to boost investment and growth in a wide range of sectors including agriculture, tourism, finance, sports and entertainment.

China's average per capita consumption expenditure stood at 9,718 yuan in the first six months, down 5.9 percent year-on-year, according to the National Bureau of Statistics.

China will open more government and public data to the market to improve efficiency. Specific employment and taxation policies will be developed to assure the sharing economy's growth.