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BEIJING — Chinese banks extended 7.97 trillion yuan (about .2 trillion) of new yuan-denominated lending in the first half of the year, but broad money supply growth has continued a downward trend, the country's central bank said Wednesday.

BEIJING -- Chinese government has decided to grant a three-year-long tax benefit to inspire self-employment and support small companies to hire more of those in need.

BEIJING -- President Xi Jinping Sunday delivered a New Year speech, vowing that China would resolutely carry out reform in 2018."We will take the opportunity of celebrating the 40th anniversary of the reform and opening-up in 2018 to further carry out reform, as reform and opening-up is the path we must take to make progress in contemporary China and to realize the Chinese dream," Xi said.He cited a Chinese adage, saying that the Chinese people would "cut paths through mountains, and build bridges across rivers" to move forward on reform.He extended New Year greetings to all Chinese, and best wishes to friends all over the world.Xi said the year 2018 marked the first year of fully implementing "the spirit of the 19th National Congress of the Communist Party of China," which outlines China's desired development blueprint over the next three decades."Building a high-rise begins with mounds of soil," Xi said, borrowing an ancient Chinese phrase to urge his fellow Chinese to take a step-by-step approach and work hard to turn the blueprint into a reality.Xi said that by 2020 all rural residents living below the current poverty line should have been lifted out of poverty. It will be the first time in China's thousands of years of history that extreme poverty is eliminated."It is our solemn promise," Xi said. "Only three years are left to 2020. Every one of us must be called to action, do our best, take targeted measures to secure victories one after another.""This is a great cause, important to both the Chinese nation and humanity. Let's do it together and make it happen," he said.Xi said China's great achievement of development was made by the people and for the people, and that among the people's most pressing concerns were education, employment, income, social security, health care, elderly care, housing and environmental protection.The president admitted that there were areas where the government's work fell short of expectations. Though progress has been made, he said, issues of public concern remain."That is why we should strengthen our sense of responsibility, and do a good job of ensuring the people's well-being," Xi said. "The well-being of our people is the Party and the government's greatest political achievement. Our cadres should put the people's state of living at the heart, and help them live a better life."On international affairs, Xi said the world expected to hear China's stance and attitude on issues concerning peace and development."As a responsible major country, China has something to say," Xi said."China will resolutely uphold the authority and status of the United Nations, actively fulfill China's international obligations and duties, remain firmly committed to China's pledges to tackle climate change, actively push for the Belt and Road Initiative, and always be a builder of world peace, contributor of global development and keeper of international order," he said. "The Chinese people are ready to chart out a more prosperous, peaceful future for humanity, with people from other countries."

BEIJING -- China's top state assets regulator said Wednesday that the country will strengthen state assets supervision with priority on capital management.

BEIJING — High costs in grain production are posing challenges to China's agricultural competitiveness, a report said.