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China is implementing the largest tax and fee cut of recent years, saving enterprises and individuals nearly 1.35 trillion yuan (9 billion) in the first seven months of this year. As a tradeoff, governments at all levels are told to "tighten their belts."

China has shown a strong desire to further open up and the intent of policy improvement is expected to follow through in execution, said Piyush Gupta, CEO of DBS Group.

China is ready to work with the United States to "tangibly press ahead" with the bilateral investment treaty negotiations and to resolve divergence and frictions through dialogue and consultations, Premier Li Keqiang told visiting US lawmakers on Monday.

China has undoubtedly developed into a global economic power. Now that it has become such a powerful country and holds a significant global role, it takes responsibility not only for Chinese nationals, but also the whole world.

China is also the third largest applicant for trademark registration in the international trademark alliance Madrid System with 4,810 applications in 2017, up 59.6 percent year on year, which shows the fast pace of Chinese firms expanding overseas.