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China has handed out licenses to 15 startups since the first was given in 2016, and around 200 are waiting in line, according to Cailian Press, a news outlet in the country.

China doesn't want a trade war. However, confronted by such short-sighted act that hurts both US itself and others, China has no choice but to fight back forcefully, to firmly safeguard the interests of the nation and its people and uphold economic globalization and the multilateral trading system. We will immediately take tariff measures of the same scale and intensity. All economic and trade outcomes of the previous talks will now lose effect.

China began a massive reform of its military in 2015. This has included merging departments to optimize efficiency, and putting restrictions on commercial activities to safeguard security and prevent corruption.

China has made remarkable achievements in poverty alleviation by boosting employment. As of June 30, the number of poverty-stricken migrant laborers nationwide reached 28.3 million, which was 3.7 percent more than the total number of migrant workers last year.

China further simplified procedures for foreign institutions investors to bet on China's domestic capital market Thursday, a move that analysts said would boost the value of stocks and bonds.