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China will immediately ban the opening of new primary mercury mines, and will ban further mining at all existing primary mercury mines starting in 2032, according to a public notice released on Tuesday by 17 central government ministries and bureaus, including the Ministry of Environmental Protection.

China will transfer a chunk of State financial assets to its social security funds, a program experts believe will ease the pressure of pension payments as the aging population continues to grow.

China's central regulators have released two guidelines in the past three months to tackle corporate bond defaults that took place from last year to the beginning of this year.

China's VAT rate structure was further cut from four to three tiers (6 percent, 11 percent and 17 percent) starting from July 2017, with tax rates for farm produce, tap water and books reduced from 13 to 11 percent.

China's Finance Minister Xiao Jie and his Japanese counterpart Taro Aso will co-chair the dialogue.