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China is taking a series of steps that should stabilize housing prices without precipitating a dangerous rapid fall. Restrictions on financing the purchase of second or third apartments are reducing the speculative demand that drove up prices. Plus, the Ministry of Housing and Urban-Rural Development says that access to affordable housing is a top priority of the government and, in 2017, announced plans to build 2 million more affordable housing units.

China has sped up financial opening-up in recent years. In 2018, the country removed foreign ownership caps of banks and financial asset managers. Foreign capital was also allowed to have majority ownership of securities firms, fund managers and futures companies in China.

China is optimistic about the future development of Brazil, and it has full confidence in China-Brazil cooperation, he said.

China has set an inflation control target of 3 percent for this year. But even if it reached 3 percent in September, the average reading for the whole year would still be lower than 3 percent given the lower readings in previous months. Moreover, core inflation, which excludes highly volatile energy and food prices, remains stable at low levels, making it almost impossible for authorities to tighten monetary policy, analysts said.

China has resumed construction at almost three-quarters of its 110 major water conservancy projects, despite the novel coronavirus outbreak and unfavorable weather conditions, the Ministry of Water Resources said.