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China's inexpensive goods have helped keep US inflation at relatively low levels and improved the well-being of its consumers. This has happened despite the fuss about the "huge trade deficit" with China, and concerns that the US stands to lose 0 billion every year, an argument used often to criticize China, Lin said.

China's fight against the novel coronavirus (COVID-19) outbreak is gaining traction with some promising signs, while challenges remain. Epidemic control of the country's vast networks of communities and villages stands to be an uphill last-mile task that entails smart aids.

China's grain output reached over 650 billion kilograms for a fifth straight year, and last year's yield of 663.9 billion kg set a new record, Wei Baigang, director of the ministry's development and planning department, said, adding that the per capita output of grain has been higher than the world average since 2010.

China's leading commercial bank ICBC announced on Monday the appointment of BNP Paribas and HSBC as joint green coordinators and mandated lead arrangers for an inaugural green loan for ICBC's London branch.

China's consumer price inflation remained mild in July while producer prices rose moderately, providing a boost to the industrial sector. Analysts said the country may keep its monetary policy stable given the expected stable price trends this year.