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China will "fight back firmly" if the United States publishes an additional list of tariffs on Chinese goods, the Ministry of Commerce said on Tuesday morning.

China released a master plan for the construction of Hainan Free Trade Port on June 1, providing a long list of opening-up policies that aims to build the whole of Hainan Island into a globally influential free trade port by the middle of the century. The island covers 35,400 square kilometers, about 49 times the size of Singapore.

China launched a battle against production overcapacity in key industries such as steel and coal. It has accomplished its plans to slash steel production capacity by around 50 million metric tons and coal by at least 150 million tons last year.

China needs more innovation in philanthropy - and more talent needs to be attracted to tackle the problems that need solving. Li Yinuo, director of the China office of the Bill and Melinda Gates Foundation, said that philanthropy was the most challenging sector for innovation, as there were a large number of problems that people did not know how to solve. Li was speaking at a philanthropy forum held by the Cheung Kong Graduate School of Business (CKGSB) on April 7 in Beijing. She said that, even inside the industry, it was easy to feel like an outsider as new situations were always arising. Tang Chunxia, secretary general of the Shenzhen Cheung Kong Graduate School of Business Education Development Foundation, said that a lack of talent was a problem for the philanthropy sector. At present about 56.5 percent of full-time employees in the philanthropy industry earned salaries lower than the average for China, with about 15.2 percent on a monthly income of less than 2,000 yuan (0) and 27.3 percent on less than 3,000 yuan. "Doing philanthropy in a good way is not easy but this industry has a great shortage of talent, so we need to work on how to improve the situation," she said. Hundreds of alumni participated in the forum, sharing their thoughts on philanthropy. Xiang Bing, founding dean and professor of China business and globalization at CKGSB, said that philanthropy was a requirement for Executive Master of Business Administration students at the school, each being required to make six-day philanthropy contribution before graduating. In 2016, the EMBA students at the CKGSB held 69 philanthropic events and contributed 16,883 hours to philanthropy. CKGSB was also was the first to set up a philanthropic foundation, which had raised about 60 million yuan by the end of 2016. It carries out hundreds of projects in such areas as education, poverty alleviation and disaster relief.  

China still has about 30 million impoverished people who earn less than 2,300 yuan each year and aims to lift all of them out of poverty by 2020. As the country's financial institutions implement inclusive finance to help win the battle against poverty in rural areas, such credit systems have extended to many areas in China.