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China started restricting and prohibiting the import of some types of solid waste in 1996. It has introduced new bans with expanded prohibited lists since 2017 to prevent environmental pollution brought by the imported waste, according to the General Administration of Customs.

China started implementing a new standard for individual income tax from October. The threshold for personal income tax exemption was raised from 3,500 yuan to 5,000 yuan per month or 60,000 yuan per year.

China is willing to strengthen strategic communication and coordination with Egypt and safeguard their common interests, Xi said.

China set up the National SME Development Fund in September 2015 to support growing SMEs in the seed and early stages. With the first batch of capital hitting 60 billion yuan, the fund called for the joint participation of private and State-owned enterprises, financial institutions, as well as local governments.

China will also encourage multinational corporations to set up regional headquarters in China, and encourage foreign firms to invest more in central, western and northeastern China, the premier said.