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Chinese Premier Li Keqiang has a discussion with some foreign experts working in China prior to the Chinese Lunar New Year, which falls on Feb 5 this year, at the Great Hall of the People in Beijing, capital of China, Jan 25, 2019. [Photo/Xinhua]

China's residential property market, which is still considered a key economic indicator, may appear down and out at the moment, but unexpected good tidings are adding to the buoyant mood generated by the celebrations of 70 years of the founding of the People's Republic of China.

China's top legislature adopted an amendment to the Individual Income Tax Law on Friday, raising the minimum threshold for paying personal income tax from 3,500 yuan (0) to 5,000 yuan per month, or 60,000 yuan per year.

China's plan to launch crude oil futures on March 26 will enable it to develop its own benchmark for oil pricing in addition to current global benchmarks, said Jonty Rushforth, senior director of the energy price group at S&P Global Platts, an energy industry information service provider.

China's total services imports are expected to reach .5 trillion over the next five years, which would account for more than 10 percent of the world's total services imports, the report said.