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China's efforts to strengthen antitrust and consumer protection will protect and stimulate the vitality of market players, and will help create a stronger domestic market, Economic Daily reported on Tuesday.

China's international trade in services dropped by 14.7 percent on a yearly basis to 2.2 trillion yuan (6.27 billion) in the first six months of 2020 due to the COVID-19 epidemic and weak overseas demand.

China's non-financial ODI in 48 countries participating in the Belt and Road Initiative rose 7 percent year-on-year to .3 billion during the period. [Photo/VCG]

China's huge auto sales market has dropped continuously for the past three months, splitting camps on the direction of the market－with the country's peak industry association saying it still believes there will be minimal growth for the full year, but manufacturers disagreeing.

China's move came after US President Donald Trump signed two proclamations on Thursday to levy a 25 percent tariff on steel and a 10 percent tariff on aluminum while offering potential exemptions for Canada and Mexico. Trump said the penalties may "go up or down depending on the country, and I'll have a right to drop out countries or add countries".