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China will continue to deepen listing system reform and positively promote mergers and acquisitions of listed companies, the China Securities Regulatory Commission said on Wednesday.

China put forward the "dual circulation" development pattern in May. Domestic circulation, or the internal cycle of production, distribution and consumption, is expected to be the mainstay of economic development while it is integrated with "international circulation" to promote the smooth two-way flow of goods and capital.

China will apply a relatively low required reserve ratio (RRR) for some small and medium-sized banks starting from May 15. About 1,000 county-level rural commercial banks will enjoy a favorable RRR of 8 percent, unleashing long-term capital of about 300 billion yuan, Yi said.

China started the pilot program in 2016 in an effort to reduce the intensity of farming and ease worsening pollution caused by agricultural production.

China offers a 24-hour visa-free transit to eligible international travelers, while people of 53 nationalities can enjoy a 144-hour visa-free transit through a number of cities, including Beijing, Shanghai, Nanjing, the northern city of Shijiazhuang and the northeastern city of Shenyang.