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China will also seek further improvement in market-based exchange rate formation mechanism for its currency to increase the flexibility of the yuan's exchange rate against the US dollar, the report said.

China supports the G20 leaders' agreement on a suspension of bilateral government loan repayments for the world's poorest countries. G20 members need to t provide fast and temporary supports on the debt restructuring of low-income countries, following the "market contracting" rules of international financing and avoiding moral hazard.

China will add up to nine magnetic levitation railroads of over 1,000 kilometers in total length into its service network in the long term to boost regional connectivity and high-end equipment manufacturing, local governments said.

China on Thursday urged the United States to cease its wrong practices and resolve existing problems through dialogue and cooperation on an equal footing with China.

China last week unveiled a list of products worth billion imported from the United States for a possible additional tariff of 25 percent, hours after the United States released a proposed list of billion of Chinese products subject to an additional 25 percent tariff.