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Developing the elderly care industry is good for improving people's well-being and stimulating consumption, said Xu Hongcai, an economist with the China Center for International Economic Exchanges.

"In 2018, China's GDP (gross domestic product) increased by 6.6 percent, contributing nearly 30 percent to world GDP growth," Chen Yulu, deputy governor of the People's Bank of China (PBOC), said in a statement to a meeting of the International Monetary and Financial Committee (IMFC) on the sidelines of the ongoing Spring Meetings of the IMF and the World Bank in Washington.

Armenia's small and medium-sized enterprises that import Chinese products and technologies will also be benefited, the expert said.

The National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top political advisory body, held a teleconference where political advisors at the CPPCC National Committee office as well as those outside Beijing used an online platform to express their opinions.

BEIJING, May 7 (Xinhua) -- When China and the United States are inching ever closer to reaching a trade deal, the U.S. side suddenly announced to raise import taxes on Chinese products. The U.S. approach is indeed regrettable, and will not work.