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Meanwhile, Business Roundtable, an association of chief executive officers of America's leading companies, said it strongly disagrees with the tariffs because it will hurt the U.S. economy and American companies, workers and consumers and would lead to foreign retaliation against U.S. exporters.

Xi added that he hopes all parties concerned will show goodwill and avoid doing anything that may affect or interfere with the improving situation on the peninsula, calling on them to maintain positive momentum on Korean Peninsula issue.

The Engel's coefficient, which measures food expenditures as a proportion of total household spending, stood at 29.3 percent in China, much higher than developed economies.

China plans to cut 30 million tonnes of ineffective steel capacity and 150 million tonnes of coal capacity in 2018, according to a government work report released earlier this month.

Macron congratulated Xi on being elected Chinese president on Saturday at the annual session of the National People's Congress (NPC), China's national legislature.