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Both sides need to conduct closer financial cooperation in order to safeguard the stability of international finance and provide more stable support for economic and trade cooperation, the premier said.

Typhoon Haikui, which made landfall in Zhejiang at 3:20 a.m. Wednesday, has affected more than 4 million people and caused economic losses of more than 10 billion yuan in the province, the headquarters said.

TAIYUAN, Aug. 1 (Xinhua) -- More than 326,000 people have been affected after heavy rain battered a county in Lvliang city, in north China's Shanxi province, local authorities said Wednesday.

Authorities did not describe the ill-fated car or identify the victim. But an unnamed witness said it was likely a BMW carrying three people.

Wihtol said that although downside risks are increasing for China in the short-term, China's sound fiscal position and potential for further monetary expansion "should ensure a soft landing for the economy."