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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 will continue to pursue a proactive fiscal policy and prudent monetary policy, advance reform and opening-up, widen market access, improve the business environment, and expand imports and outbound investment to contribute to a stable world economy, Chinese Ministry of Foreign Affairs said on Friday after the G20 Leaders' Virtual Summit.

China strongly condemned the United States' signing into law of the Hong Kong Human Rights and Democracy Act of 2019.

China started to allow rice imports from the United States for the first time as part of the latest effort to enhance bilateral trade in agricultural products, the Ministry of Commerce said on Thursday.

China may encourage investment in advanced manufacturing, such as aerospace, semiconductor, integrated circuits, and rail transportation equipment, to cushion falling growth of general manufacturing.